A new ATM located in Shanghai is attracting widespread media attention for its incredibly futuristic and "sci-fi" functionality: gems of gold can be melted inside the ATM and the monetary value is instantly deposited into your bank account.

The high-tech gold ATM is supposedly the first of its kind in China. Upon inserting your gold jewellery, coins, or bullion inside the ATM, the machine automatically weighs the gold, melts it, assesses the purity and weight, and credits your bank account the equivalent market amount - all in a matter of minutes!

The ATM first came to light internationally by way of Turkish tech influencer Tansu Yegen, who shared a video of the ATM via X (formerly known as Twitter). “A gold ATM in Shanghai melts the gold and transfers the amount corresponding to its weight to your bank account,” Yegen tweeted to continue the viral interest and discussions over the future of currency exchange and financial innovations.

Industry experts suggest that this gold ATM extends many of China's national priorities by converting traditional assets in gold and cross-digitalizing them with newer financial technologies; and that it signals a new freedom to the public in participating in an accessible manner in the world of gold trading and digitization of assets.