Before the concept of money was developed, gold and silver were highly coveted and recognized as a valuable commodity. Even with currency today, they hold reigning power when it comes to wealth. Investing in precious metal assets is considered to be smart expending.
Digix Global, an asset-tokenization platform built on Ethereum which deposits digital gold into Ethereum user’s wallets, have secured a deal with Silver Bullion and The Safe House. The company will be transferring their current gold holdings to Silver Bullion for their relaunch of DGX 2.0.
Silver Bullion is one of Singapore’s largest precious metals dealer, securing about 200 million SGD worth of clients’ precious metal assets in its country. The dealer is also audited by PricewaterhouseCoopers (a global service) to ensure accuracy and accountability. The Safe House, located in Singapore, is a subsidiary company of Silver Bullion.
This deal will make Digix Global the StableCoin of choice while facilitating their customer’s future gold purchases and storage.
According to their press release:
“Digix Global expects to store close to USD $3 million worth of gold and Silver Bullion by the end of the year and will transfer its gold holding out from Malca-Amit at Le Freeport with immediate effect.”
Digix Global’s CEO, Kai C. Chng said:
“Silver Bullion is the ideal partner for blockchain technology. Their receptivity to integrate with DGX and blockchain technology bodes well for Digix’s future.”
If companies begin to see the advantages of Ethereum implementation, the possibilities could become endless.