Digix Global will launch its own stablecoin anchored to gold
The Singapore startup announced its new strategy, which proposes the exchange of tokens by gold bars
The company Digix Global recently indicated that it plans to launch its own stablecoin called DGX, which will be anchored to the value of one gram of gold.
The Singapore-based startup said its strategy aims to exchange tokens for gold bars stored in its vaults.
Due to security issues and the high cost of international gold shipments, Digix Global will require exchanges to be made in person.
With this strategy, Digix will mark a different path than other stablecoin companies such as USDT, PAX, GUSD, TUSD and USDC, which have a one-to-one relationship with some fiduciary currency.
Currently the company has 1,400 grams of gold, however CEO Kai C. Chng recently said that they plan to acquire some five thousand additional units in the coming months.
K. Tovar
Source: Coincrispy
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