Digix Heads Regional With Hotbit Exchange Tie-up
27 September 2019 — Digix announces its expansion plans into the Chinese markets through Chinese Digital Exchange, Hotbit. The listing of Digix’s gold-backed token, DGX on the Hotbit platform, allows for Chinese retail investors to diversify their portfolio with digital gold. This too marks Digix’s entry into the Chinese retail investor market.
Expanding Digix’s Digital Asset Network In The Region
Digix’s listing on a Chinese exchange comes as it continues its presence regionally. DGX’s listing on the Hotbit exchange will also enable it to be exposed with the expanded catalogue of altcoins that Hotbit is reputed for listing.
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. DGX tokens are presently listed on internationally recognised digital exchanges including Bitfinex, KyberSwap and Uniswap. In the Hotbit exchange, DGX will be paired with traditional Bitcoin (“BTC”) and Tether’s USD stablecoin (“USDT”)
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.
Hotbit is excited to announce the listing of DGX by Digix — a token backed by grams of real gold that can be physically redeemed in Singapore. As pioneers, bringing traditional assets onto the blockchain, the Digix team highlights that there is real viability for digital asset classes that are safe and accessible to the everyday retail investor. We are excited to have Digix onboard as we expand our market share internationally to create a global marketplace for alternative tokens.
“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, ” said Shaun Djie, COO and Co-Founder of Digix.
About Digix
Digix, incorporated in Singapore in 2014, is the blockchain company behind the world’s first gold-backed digital asset class. The company has secured physical gold vaults located in Singapore and Canada. A pioneer in Singapore’s blockchain ecosystem, Digix was the first company globally to send a live transaction on the Ethereum network.
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