CoinShares, Blockchain, and MKS have jointly launched the DGLD with more than $20M in gold digitized. Gold token secured by Bitcoin Network being launched by CoinShares.
DGLD is a digital asset (token) deposited in a Swiss bank with a side chain built on the Bitcoin network that represents allocated physical gold.
Marwan Shakarchi, Chairman of MKS (Switzerland) SA said: Global exchange
“DGLD is the natural progression of our work with gold, and gold formats at MKS. With DGLD, we’ve created a new format for gold ownership which makes vaulted physical gold, digitally useful, 24/7.”
DGLD is built for both retail and institutional investors seeking a controlled custodian to protect their investments.
Peter Smith, co-founder, and CEO of Blockchain, said: Global exchange
“With DGLD, global purchasers of all sizes will be able to own and secure gold just like financial giants, without the high barrier to entry of legacy options.”
The consortium has partnered with the UK-regulated capital markets agency, Globacap, to provide digital asset custody.
The goal is to provide the ease of buying gold with “with the independence of physical gold ownership and the 24/7 nature of digital assets.”
Gold has long been considered a hedge against the economic and political crisis, but ownership of gold has often come with trade-offs. DGLD is a new format that offers convenience and safety; without intermediaries.
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