Editor’s Note
This article explores the ambitious vision of Rishidas Vaniyankandi, Founder and CEO of Palm Holdings Ltd., to transform the gold industry. Moving beyond its origins in OTC FX markets, the company is building an integrated ecosystem that repositions gold as a cornerstone of trust and transparent value on a global scale.
From OTC FX to an Integrated Gold Ecosystem
Rishidas Vaniyankandi, Founder and CEO of Palm Holdings Ltd, speaks about the company and the future of gold — a future built on his vision to inspire trust and value.
From the OTC FX markets to the creation of a fully integrated gold ecosystem, Rishidas Vaniyankandi has redefined the way we perceive precious metals — not merely as commodities, but as foundations of trust, transparency, and global value.
With operations spanning from Africa to Europe and from the United Arab Emirates to Cyprus, Palm Holdings stands out as one of the most integrated and forward-thinking groups in the gold industry, bridging the physical and financial worlds through innovation, ethical sourcing, and technological advancement.
Tell us about Palm Holdings Ltd. How did it begin, and what does it represent today?
“Palm Holdings’ precious metals trading brand, SEC, was founded in 2019 with a simple but ambitious vision: to build an ecosystem that ensures trust, transparency, and efficiency from source to end-user. Too often, mining, refining, trading, and investment are fragmented. We wanted to create a model of vertical integration.”
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“Staying true to that vision, we have since invested in large-scale mining assets in Africa and established the state-of-the-art Palm Gold Refinery in the UAE, now one of the UAE’s leading refining facilities.”
“Today, Palm Holdings is the UAE’s only fully vertically integrated gold group. We operate across Africa, the Middle East, Europe, and Asia, and our group turnover now exceeds USD 40 billion since inception. But more than numbers, what we are building is resilience — a global ecosystem of value anchored in gold and other precious metals.”
What are the key pillars of Palm Holdings’ business?
“We’ve structured the group around five core pillars: Palm Gold Refinery FZE is our state-of-the-art refining and minting operation in the UAE. SEC Jewellery, based in Dubai, is one of the fastest-growing wholesale and retail precious metals traders in the region. SEC Bullion, based in Cyprus and Bulgaria, connects us to European markets. Our mining subsidiaries in Africa ensure ethical and reliable sourcing from the ground up. Finior Capital, our licensed financial brokerage in Abu Dhabi Global Market, bridges physical metals with global investment flows.”
“We’ve also established a Hong Kong presence, which is strategically important as it gives us a foothold in Asia’s bullion and jewellery hub and helps us connect East and West.”
Palm Holdings has come a long way since 2019. What was your initial vision when you founded it, and how has it evolved?
“When my partner Jasim and I founded SEC back in 2019, the goal was never to trade gold — it was to reimagine how the entire gold ecosystem could work together. I’d spent years watching the industry fragment, with mining, refining, trading, and investment all operating in isolation. I wanted to bring those worlds under one roof, guided by transparency, integrity, and innovation.”
“What began as a humble trading venture has grown into one of the most integrated gold groups in the region. Today, Palm Holdings connects five central pillars — mining, refining, wholesale and retail trading, investment brokerage, and risk management — all working in harmony. That integration allows us not only to control quality and efficiency but also to uphold the ethical and environmental standards that modern investors expect.”
“Six years later, I can say the vision has evolved — from building a gold business to shaping a global ecosystem of trust and value. And as we expand into new areas like real estate and fintech-driven gold investment platforms, Palm Holdings continues to reflect the same spirit that started it all: building something enduring, valuable, and transparent. It’s what our philosophy — ‘From the Ground to Home’ — truly represents: transforming a natural resource into something that holds value, meaning, and trust for every person it touches.”
How has your financial experience helped you approach precious metals from a different perspective?
“Coming from the world of OTC FX, derivatives, and commodities taught me a lot about how markets really think. You learn that numbers are just part of the story — it’s about timing, sentiment, and how people react to opportunity and risk. That experience shaped the way I look at precious metals today.”
“When I entered the gold industry, I didn’t see it as a traditional trade. I saw a market that needed more structure, more strategy — the kind of precision that financial markets demand. My background helped me bring that discipline into Palm Holdings. We treat gold not just as a commodity, but as a financial asset — one that deserves the same level of sophistication, hedging, and risk management as any primary global market.”
“That’s really where our edge lies. We bridge two worlds: the physical and the financial. It’s about turning volatility into opportunity, and making sure that every move we make — whether in mining, refining, or trading — is backed by strategy, not chance.”