WeTrust a Santa Clara-based platform for savings and lending on the blockchain has partnered with Singapore-based DigixGlobal, a company putting digital gold tokens on the Ethereum blockchain.
WeTrust has released a fully functional and security audited proof of concept that allows the creation of Trusted Lending Circles using Ether as the unit of account.
A key factor in driving mass adoption of the WeTrust platform is providing the ability for users to use the unit of account of their choice, and by allowing gold tokens to be utilized.
Gold has a storied history in their use within lending circles, and are currently used in many parts of the world due to their cultural role in society and their stability as a store of value. As WeTrust makes progress in supporting multiple types of tokens, Digix gold tokens is a logical next step due to demand from users.
George Li, co-founder of WeTrust mentions:
“We look forward to enabling Gold based Lending Circles very soon and are excited to be working with DigixGlobal to amplify the strengths of Lending Circles through the use of technology.”
WeTrust is also currently conducting a token crowd sale and has so far raised $4 million. Specifically, 517.5494 BTC and 63,997.5826 ETH has been raised up until today through 756 participants with 23.76% of the 1425.8 / 6000 BTC cap filled with 26 days remaining.
Digix has created a selection of digitized assets for crypto and traditional investors, including digital gold, tokenized gold and DigixDAO tokens available to purchase through Bitcoin and Ethereum, last month the platform announced plans for a gold-backed token debit card.