Digix and SilverGoldBull (SGB) are proud to announce today a formal partnership that will complement and strengthen the products and services both companies provide. Digix will have their metals stored in custody with Silver Gold Depository, which utilizes Brinks as the default network of vault storage of precious metals.
SGB, established in 2009, is one of North America’s largest physical precious metals retailers. Silver Gold Bull has a global vision focused on catering to large under serviced international market.
In a move to achieve greater adoption of cryptocurrencies, SGB was an early adopter accepting Bitcoin payments for precious metals dating back to 2013. The range of cryptocurrencies SGB accepts includes Bitcoin, Ethereum, Bitcoin Cash, LiteCoin, Ethereum Cash, and Dash.
Mihali Belandis, Manager partner of SGB, mentions: “We are at a unique period within the gold and silver space and are excited for our upcoming cycle in the metals. With the explosion in users in the crypto market Silver Gold Bull has realized that there is a new generation of purchasers and traders that don’t necessarily desire the physical redemption of our products. With this said we believe we have found the strongest partner in Digix to open up this market and develop alongside with our robust platform for delivery and storage of metals. Not only does Digix represent the strongest technology to partner with Silver Gold Bull but it also has management team and ownership, that align with our thinking and strategy for global rollout of the product.”
Digix is a Singapore based company that sells digital gold tokens (DGX) that are redeemable for gold in well established Singapore vaults. DGX is a digital token backed by 99.99% gold cast bars from London Bullion Market Association-approved refiners, on proportional basis of 1 token to 1 gram of gold. Built on the Ethereum blockchain, DGX is the digital representation of physical gold as an ethereum token.
This partnership greatly increases the offering for the customers of both Digix and SGB.
Digix customers will soon be able to enjoy geographical diversification of bullion supply as well as delivery and redemption points for gold around the world.
Speaking about the partnership, Kai C Chng, CEO of Digix, said, “This represents the first step in bringing traditional gold retailers into the space. This is the future, and we are excited that SGB has taken the leap of faith to venture into the crypto space with us.”
Digix and SGB believe that gold, as a recognised store of value should be made accessible to every person worldwide and intend on being a part of making that happen.
At Digix, we are building an ecosystem that aims to be the 21st century gold standard on the Ethereum blockchain, through the launch of our first product, the gold backed token DGX. We first aim to democratise access to gold by having digital gold easily accessed by anyone. Digix leverage the transparency and security afforded by the blockchain in what would otherwise be an opaque custody chain of asset transfers. All inventory data on the physical assets backing the tokens are transparently tracked and audited on the blockchain for anyone to verify. Tokens can be created through the smart contracts only after the physicals have been delivered by Digix to the independent custodial vault. The physicals are subject to quarterly audits by an independent precious metals auditor that we engage.
Digix’s proprietary technology is the foundation of a revolution in the digitisation of assets, sitting on the convergence of the digital and physical worlds. For more information please visit: https://digix.global/
Silver Gold Bull is one of North America’s largest bullion dealers, and your trusted bullion dealer since 2009. Silver Gold Bull is focused on helping investors diversify into hard assets to protect the future purchasing power of their savings. We carry a wide range of mint-direct physical bullion products and deliver them directly into your hands.
For more information please visit: https://silvergoldbull.ca/