Digix, an asset tokenisation company that aims to bring crypto gold onto the Ethereum blockchain in a fully transparent and secure manner, and Request Network, a decentralised payments network for users anywhere in the world, have announced a partnership that will soon see gold-backed Digix gold (DGX) tokens available as an option for invoicing on the Request Network.
Users on the Request Network ecosystem will be able to request for invoices to be paid in DGX tokens. Such a partnership is timely, as DGX 2.0 has just gone live for purchase on Sunday, April 8th.
Having gold-backed tokens available as an invoicing option allows users to receive payment in a stablecoin whose value is not subject to the wild volatilities of the cryptocurrency world or to foreign exchange fluctuations.
DGX tokens are backed by 99.99% gold cast bars from London Bullion Market Association (LBMA)-approved refiners on a 1:1 basis, where 1 token is backed by 1 gram of gold. DGX tokens can be tracked on Etherscan.
As DGX tokens become increasingly integrated into many different platforms, Digix is confident that this attests to the opportunities for a stablecoin that is backed by a physical and tangible asset. While the financial services industry continues to witness unparalleled interest in blockchain technology, asset-backed tokens such as DGX tokens are likely to witness a growth of platform users and token holders who want to invest in or hedge against any volatility through a safe haven asset.
Request Network is a decentralized payments network built on the Ethereum blockchain that allows users anywhere in the world to request payments, without the need for third-party involvement and third-party transaction fees. It is designed to be currency agnostic and able to integrate ERC20 tokens into its platform.
Digix is an asset tokenisation company with an aim of tokenizing real world assets through several proprietary technologies, such as the Proof of Provenance (PoP) protocol which ensures the legitimacy and transparency of the process through which gold bullion is represented as digital assets. Digix is incorporated in Singapore and was the first company in the world to launch a crowdsale on the Ethereum blockchain in early 2016.