Digix to store precious metals with SilverGoldBull

Thursday 25 October 2018 10:12 CET | News

Digix has teamed up with SilverGoldBull (SGB), a US-based precious metal retailer, to enable the retailer complement the products it provides.

Digix will have their metals stored in custody with Silver Gold Depository, which utilizes Brinks as the default network of vault storage of precious metals. SGB, established in 2009, is one of North America’s largest physical precious metals retailers. Silver Gold Bull has a global vision focused on catering to large under serviced international market.

In a move to achieve greater adoption of cryptocurrencies, SGB was an early adopter accepting Bitcoin payments for precious metals dating back to 2013. The range of cryptocurrencies SGB accepts includes Bitcoin, Ethereum, Bitcoin Cash, LiteCoin, Ethereum Cash, and Dash.

Digix is a Singapore based company that sells digital gold tokens (DGX) that are redeemable for gold in established Singapore vaults. DGX is a digital token backed by 99.99% gold cast bars from London Bullion Market Association-approved refiners, on proportional basis of 1 token to 1 gram of gold. Built on the Ethereum blockchain, DGX is the digital representation of physical gold as an Ethereum token.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Digix, SilverGoldBull, partnership, cryptocurrency, tokens, gold backed tokens, cryptocurrency payments
Countries: World

Industry Events