Lao Bullion Bank granted licence for electronic gold trading via LBB PLUS App

The Lao Bullion Bank (LBB) has been granted a licence by the Ministry of Industry and Commerce to operate an electronic gold trading platform, a landmark development for the Lao financial and precious metals sector.
The licence was awarded on August 1, allowing the bank to conduct gold accumulation and trading services through its proprietary application, LBB PLUS.

Mr. Santisouk Phounsavath, Director General of the Department of Domestic Trade, Ministry of Industry and Commerce, expressed his remarks to ensure that business operations in the gold saving and trading services via the LBB PLUS application are carried out correctly and in compliance with government regulations. This aims to build trust, credibility, convenience, speed, cost and time efficiency, as well as clarity and transparency for users (including the general public, government officials, military personnel, and police nationwide) to use the gold saving and trading services through the LBB PLUS application.
It also ensures risk management in operating the gold saving and trading business via the LBB PLUS application and helps to avoid issues or disturbances in such operations, such as fraud, illegal fundraising, scams, and misuse of the platform in ways that violate regulations, laws, and other rules.
The Department of Domestic Trade has therefore conducted a review, given its approval, and issued a business license for providing electronic gold trading services (gold saving and trading via the LBB PLUS application) in accordance with the proposal of the Lao Bullion Bank. This licensing is fully compliant with the standards and conditions of the Agreement on the Provision of Electronic Gold Trading Services, No. 0666/DIC, dated 22 April 2025.
“This service will foster trust and convenience for a wide range of users, including ordinary citizens, civil servants, military personnel, and police officers. It reduces risks and helps prevent fraudulent activities such as scams, unauthorised fundraising, and the misuse of trading platforms,” Mr Santisouk said.
The Domestic Trade Department rigorously assessed and approved the Lao Bullion Bank’s application before issuing the licence, he added.
Vice Chairman of the Lao Bullion Bank’s Board of Directors, Mr Alounkeo Kittikhoun, expressed his deep appreciation for the government’s support and recognition.
He proudly announced that LBB PLUS is the first electronic gold trading service in Laos to be licensed by the Ministry of Industry and Commerce.
“This licence represents a major milestone, not only for our bank but for the entire gold trading industry in Laos,” he said.
“It affirms our commitment to promoting secure, legal, and efficient gold transactions, and supports the elevation of the Lao gold market to international standards.”
He further noted that the platform will enhance public confidence, strengthen the gold trading ecosystem, and safeguard the interests of both buyers and sellers.
It is designed to offer maximum security for users’ gold holdings, reduce concerns around fraud, and provide a seamless trading experience.
With full backing from the Domestic Trade Department and the Ministry of Industry and Commerce, the LBB PLUS app is expected to play a pivotal role in the development and modernisation of the gold market in Laos, contributing meaningfully to the national economy and the financial well-being of its citizens.

By Times Reporters
 (Latest Update August 6, 2025)