Gold Token SA has listed its gold-backed token, DGLD, on Bitstamp, a leading digital asset exchange, recognised for its strong regulatory and compliance framework. DGLD is tokenised gold that provides digital proof of ownership of gold bullion bars, from as little as 1g, with 0% custody and transfer fees.
All of the gold is held physically in a vault in Switzerland, off balance-sheet and fully insured. DGLD will be available for purchase with USD and EUR.
DGLD is secured on the Ethereum blockchain and each token gives the holder a legal claim to 1 Troy Oz of an allocated LBMA gold bar. Since all the underlying gold is allocated, investors can identify precisely which bar they own at all times via DGLD’s bar mapping application. Every gold bar tokenised is issued with a gold bar integrity certificate, recording key information unique to that bar onto the blockchain.
DGLD was created through a joint venture between CoinShares International, the European alternative asset manager specialising in digital assets, and MKS PAMP, a global industrial and trading services group specialising in precious metals.
“DGLD extends the convenience of digital banking to physical gold, modernising gold investing while giving investors additional peace of mind over the substance of their investment,” James Bennett, CEO of Gold Token SA explained. “Investors can own physical gold in a fully transparent, liquid, and low-cost way without having to rely on the balance sheet of an intermediary such as an asset manager or SPV. Owning a DGLD token gives a claim directly on the physical bar which can be redeemed in full at any point.”
As a Swiss regulated virtual asset service provider (VASP), GTSA has built DGLD with regulatory compliance at its core. DGLD is considered a ‘payment token’ in line with FINMA’s ICO guidelines that were established in 2018. DGLD is considered a gold denominated bearer asset which can be used for both investments and payments.
Holders of DGLD tokens benefit from physical gold ownership but without the drawbacks associated with physical gold, including storage costs and limited accessibility. This makes DGLD a secure, portable and convenient way to own, buy, sell, lend and send gold. At the time of writing, there are approximately 6,900 Troy Oz or $13.5M of gold tokenised through DGLD.
Daniel Masters, Director of Gold Token SA and Non-Executive Chairman of CoinShares added: “Our partnership with Bitstamp, a proven association, signifies a major milestone for GTSA. We anticipate a prosperous journey ahead, leveraging the synergies of this alliance to enhance financial accessibility and freedom.”
