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Digix Partners With SilverGoldBull for a Better Gold-Backed Blockchain

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Digix, a company based in Singapore selling cryptotokens (DGX) redeemable for real gold announced a partnership with (SGB) today.

A mutual benefit, however, strong partnerships usually create tougher competition.

The partnership greatly increases the offering for customers of both Digix and SGB. Digix will have their metals stored in custody with Silver Gold Depository, which uses Brinks for the vaulting of precious metals. Digix customers will have more diversification of gold storage and new physical redemption locations around the world too. Until now, anyone wanting to redeem Digix gold had to do so in Singapore.

“This represents the first step in bringing traditional gold retailers into the space. This is the future, and we are excited that Silver Gold Bullion has taken this leap of faith into the crypto space with us.”

SGB, established in 2009, is one of North America’s largest physical precious metal retailers. Silver Gold Bull has a global vision focused on catering to as much of the international market as possible. SGB was an eager early adopter of cryptocurrency, first accepting BTC payments as early as 2013. Today SGB accepts Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Cash and Dash for precious metals.

“We are at a unique period within the gold and silver space and are excited for our upcoming cycle in the metals.  With the explosion in users in the crypto market, Silver Gold Bull has realized that there is a new generation of purchasers and traders that don’t necessarily want the physical redemption of our products. With this said we believe we have found the strongest partner in Digix to open up this market and develop along with our robust platform for delivery and storage of metals. Not only does Digix represent the strongest technology to partner with Silver Gold Bull but it also has management team and ownership, that align with our thinking and strategy for global roll-out of the product.”

Could gold-backed blockchain be the future of money?

Each DGX token represents 1 gram of .9999 London Bullion Market Association (LBMA) approved gold bullion. There is a second token by Digix named DGD. DGD has a 1,000,000 token hard-cap and is the governance token for DGX. You can learn more about Digix in our gold-backed blockchain directory.

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