ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Monolith Studio And DigixGlobal Collab To Create The First Ever Gold-backed Debit Card




Blockchain startup Monolith Studio has collaborated with Ethereum-backed gold asset tokenization company DigixGlobal to create the first ever gold-backed debit card.

DigixGlobal, an Ethereum-backed gold asset tokenization company, has collaborated with software provider Monolith Studio to create the first ever gold-backed debit card using a blockchain. The card will be available to DigixGlobal users worldwide. However, Kai Cheng Chng, CEO of Digix, stated:

“The partnership will focus on some specific markets namely countries with weak national currencies and large remittance flows. The partnership will also work to make it easy for the general public to acquire DGX tokens for use on their card."

The DigixGlobal debit card is based off of TokenCard, an Ethereum-backed debit card that can hold ERC20 tokens. The TokenCard platform is a venture of Monolith Studio, a developer of Ethereum powered products and platforms for Web3. TokenCard combines Ethereum and the Visa payment network for a distributed banking solution that seeks to innovate banking services like asset management and international remittance. Each debit card is backed by a personal smart contract that ensures users remain in control of deposits, without hindering use. Mel Gelderman, co-founder of Monolith Studio, told ETHNews:

“TokenCard is a banking card system that will be backed not just in volatile assets like the Bitcoin debit cards. We have something that is backed on something tangible like gold. Something that has stable value. We know that normal people aren’t going to use Bitcoin for their daily transactions because it’s too volatile. They don’t understand it.”

In addition, TokenCard’s asset retention feature allows for the avoidance of needless holding of a fiat balance. Gelderman stated:

“The debit card we’ll issue to users technically has no balance at all. However, the moment that you use a card in the shop, it’s loaded with exactly the amount you’re paying with. We authorize the transaction and Visa deducts it.”

He went on to say:

“Your actual accounts or actual balance is an ERC20 compliant token wallet, your funds really are held completely in Ether or other tokens. So there is no fiat for the user.”

When users initially apply to TokenCard, they will go through a set-up wizard that will prompt them to choose the standard currency from a curated list of stable coins. According to Gelderman, Monolith won’t recommend any “incredibly volatile” assets.

DigixGlobal and Monolith are pushing toward the future of fintech with practical solutions that can assist with mainstream adoption of virtual currencies, offering a product that has intrinsic value, flexibility, and persistent demand.

Dan Cummings

Dan is a Los Angeles-based musician, writer, and veteran passionate about science and technology, current events, human rights, economic impacts, and strategic calculus.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest DigixGlobal, Monolith Studio or other Ethereum application news.