Gold Token Created By Crypto And Precious Metals Giants Opens Trading To The Public
12 Dec, 2019, 10:00 GMT
DGLD token, secured by the bitcoin network, released exclusively for purchase and trading on Blockchain.com's crypto exchange
LONDON, Dec. 12, 2019 /PRNewswire/ -- DGLD, a network with more than $20M in investment grade gold allocated in Swiss vaults and secured using Bitcoin, has launched and is now available for purchase exclusively on The PIT, Blockchain.com's cryptocurrency exchange.
DGLD is a digital asset (token) created by CoinShares, Europe's Largest Digital Asset Manager, Blockchain.com, the most trusted platform for cryptocurrency products, and MKS (Switzerland) SA, part of the world's most trusted gold group. At creation, each DGLD token represents 1/10th of a troy ounce of physical gold stored in Swiss vaults for which token holders can swap or physically redeem.
The launch comes at a time when gold purchasing habits around the world are undergoing a major shift. Consumers are slowly, but steadily switching from traditional physical-ownership of gold to digital formats of gold ownership that improve liquidity, are accessible 24/7, lower storage costs, and enhance security.
"Too often gold has been pitted against bitcoin as rivals," says Charles McGarraugh, Head of Markets at Blockchain.com. "With DGLD we've thrown that question out of the window to say that the world's two hardest assets are ideal complements for investors across the world. Market conditions are likely to increasingly favor hard assets in coming years, and I see this mutually beneficial interplay only increasing over time."
"If there was going to be a gold standard 2.0, DGLD is what it would look like: supranational, secure ownership of physical gold which is digitally spendable," says Daniel Masters, Chairman of CoinShares. "That's exactly what DGLD is - the world's most enduring physical asset, Gold, combined with the world's most resilient network, Bitcoin, to make gold digitally usable. After two plus years of work, we could not be more excited to see trading of digitized gold begin on the PIT."
"As Switzerland's premier gold storage and fabrication facility we are proud to provide the physical infrastructure to support DGLD," says Marwan Shakarchi, Chairman of MKS (Switzerland) SA. "Our worldwide network of gold clients welcome this digital innovation to a much loved asset class."
Beginning today, DGLD is available for purchase and trading exclusively on The PIT, Blockchain.com's cryptocurrency exchange. The PIT was built by the team behind over 44M Blockchain Wallets, and is the most trusted place to trade and buy crypto. It supports deposits and withdrawals in Dollars and Euros, and is available in 190 countries.
DGLD is not available to users in the US or Canada.
Please visit DGLD.ch for more information.
ABOUT BLOCKCHAIN.COM
Blockchain.com is connecting the world to the future of finance. We are one of the most trusted and fastest growing digital assets companies, helping millions across the globe – from individuals to the largest institutions – get easy and safe access to cryptocurrencies. Blockchain.com has raised over $70 million in funding from leading investors including Lightspeed Venture Partners and Google Ventures. Board members include former Barclays CEO Antony Jenkins, Lightspeed Ventures Partner Jeremy Liew, and former Skype COO Michael Jackson. (www.blockchain.com/press).
ABOUT MKS (SWITZERLAND) SA
MKS (Switzerland) SA, located in Geneva, is part of the MKS PAMP GROUP and has forged a reputation as one of the world's most trusted gold dealers. The refiner and vault operator PAMP SA, located in Castel San Pietro, Switzerland, is also part of the group.
The MKS PAMP GROUP specializes in all aspects of the precious metals business, covering areas spanning refining, producing and trading. Established in the early 1980s, the group prides itself on the highest quality standards based on solid foundations of honesty, integrity and trust. The relationships built in the early days of the group has seen MKS PAMP GROUP expand globally - with 700 employees spanning 15 offices in 12 countries, covering the world's major bullion markets. For more information, please visit: MKS.ch
ABOUT COINSHARES
The CoinShares Group is the global authority on digital asset management with offices in London, Jersey, and New York. The group creates, issues, and manages investment products that serve thousands of investors, including institutional and accredited investors. Our goal is to provide regulated, risk-managed investment products and services by which investors can participate in the growth of a new asset class, and a new technology paradigm.
CoinShares has a history of pioneering new approaches to digital asset investing, and collectively, the Group enjoys the world's longest track record of regulated investment management in digital assets. From our beginnings in 2013 to present, we have collaborated with lawmakers, financial institutions, and innovators to pioneer new offerings while also serving as a trusted partner and advisor to our clients.
With a proven track record, CoinShares has the breadth, depth, and scale needed to provide investment products and services to the world's most sophisticated investors. For more information, please visit: coinshares.co.uk
CONTACT: Megan Carey, mcarey@mgroupsc.com
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