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2019-10-16 20:19:50
Jacob Fisher

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2019-10-16 20:19:50

CoinShares and Blockchain Launch Bitcoin Gold Token

CoinShares, a digital asset management company, jointly with Blockchain, a cryptocurrency wallet provider and precious metals dealer MKS, has launched a network for trading gold-backed tokens based on the Bitcoin blockchain

CoinShares, a digital asset management company, jointly with Blockchain, a cryptocurrency wallet provider and precious metals dealer MKS, has launched a network for trading gold-backed tokens based on the Bitcoin blockchain

CoinShares, a digital asset management company, jointly with Blockchain, a cryptocurrency wallet provider and precious metals dealer MKS, has launched a network for trading gold-backed tokens based on the Bitcoin blockchain, reports The Block.

The development of the project lasted about two years. At the initial stage, to secure tokens, gold worth more than $ 20 million is used, which is stored in Switzerland. Each DGLD token is provided with 1/10 troy ounce. CoinShares Chairman Daniel Masters said:

DGLD combines the stability of the longest-running asset in the world with the security of the most reliable network. Now you can be sure that your gold in material form is stored in Switzerland, and at the same time use the same level of convenience, but do not resort to the same levels of intermediaries as when working with ETF for gold

The tool will be available to both institutional and retail investors, and will be presented in more than 200 countries where The PIT from Blockchain operates. The exact launch date of the token is unknown, but, according to Masters, this will happen "in the coming weeks." When launched, the DGLD will not be available in the United States, Canada, and sanctioned countries.