Digix, the first company to tokenize physical assets on Ethereum, has announced the listing of Digix’s gold-backed token, DGX on Chinese cryptocurrency exchange Hotbit.
The listing allows for Chinese retail investors to diversify their portfolio with digital gold. Initial markets DGX will be paired with include Bitcoin (BTC) and Tether’s USD stablecoin (USDT)
Chinese Exchange Listing
Digix’s listing on a Chinese exchange comes as it aims to expand its presence regionally. DGX’s listing on the Hotbit exchange will also enable it to be exposed to an expanded list of altcoins on Hotbit.
The listing also strengthens the use-case and price stability of altcoins and stablecoins, particularly in light of the volatility of traditional cryptocurrencies. This strengthens the use-case of Digix’s gold-backed tokens (DGX) as accessible, and safe forms of securities for trading.
Digix is the world’s first smart-asset company using blockchain that accounts for the authentication and provenance of 99.99 percent investment-grade gold bullions. Physical gold bars are registered on the blockchain, and every 1 gram of physical gold registered is pegged to 1 DGX token.
Every DGX token represents 1 gram of gold that is stored in accredited precious metals vaults in Singapore and Canada. Retail investors holding DGX tokens can exchange their token back at Digix to redeem the physical investment-grade gold bullion.
“Digix continues towards making traditional gold accessible to more digitally connected consumers. We are strategically listing on exchanges that showcase the potential to grow and draws in our preferred target audiences. Hotbit has the accessibility and diversity of alternative digital assets and tokens. This enables us to have DGX exposed to more asset classes and savvy investors who might be curious at what difference Digix offers. ”
– Shaun Djie, COO and Co-Founder of Digix