Digix integrates gold-based DGX into BitGo’s digital currency support
DigiX, a gold-based digital asset class has announced its partnership with BitGo. The company has integrated DGX, a gold-based digital cryptocurrency into BitGo’s digital currency support with enterprise access.
DGX represents physical gold in the digital form as an Ethereum token. The digital asset is backed by 99.99% gold cast bars that are approved by refiners from the London Bullion Market Association.
However, the token is directly proportional to gold in a ratio 1:1, which simply means 1 token is equivalent to 1 gram of gold.
Since BitGo is multi-currency friendly, it allows users to create new wallets and view all of the user’s holdings under one roof with a total $USD value.
“We are proud to announce that DGX is integrated into BitGo’s Digital Currency Support with Enterprise Access. BitGo is the market leader in institutional-grade cryptocurrency security and custodial services, with integrations to some of the largest virtual currency players and exchanges,” said Kai C Chng, CEO, Digix.
He also mentioned that the integration will help Digix get recognized as it is integrated with a recognized platform.
“Having this integration places DGX on an industry-recognized platform and would be a springboard for DGX to be listed on other major exchanges as we head into Q4 2018,” added the Digix CEO.
According to a recent report by BC Focus, BitGo along with two other firms announced the launch of an ERC-20 based Bitcoin token on the Ethereum platform. This token is named Wrapped Bitcoin (WBTC) and is all set to be launched in January 2019. It is said to serve an important development in cross-chain infrastructure for the entire cryptocurrency industry.
According to another report by BC Focus, BitGo listed two new coins to its crypto wallet earlier this month. This will allow customers to trade in the two coins–Dash and Stellar Lumens.
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Author: Nitin Murali