LONDON, Oct. 15, 2019 /PRNewswire/ -- In a move to transform the way gold is traded, a consortium of the world's leading gold and crypto companies has launched the Digital Gold (DGLD) network, with more than $20m in gold tokens already held in custody by Globacap.
The group comprising CoinShares, Europe's largest digital asset manager, Blockchain.com, the largest online provider of crypto wallets, and MKS (Switzerland) SA, part of one of the world's most trusted gold groups, today announced a partnership with Globacap as the recommended custodian to hold these new digital assets for institutional clients.
Globacap is a regulated financial services firm in the UK that is automating capital markets, and is the first authorised custodian in Europe to provide digital asset custody with the same level of rigorous oversight and robust processes expected of a global custodian.
DGLD is a digital asset representing physical gold stored in a Swiss vault and digitally secured by a side-chain built on the Bitcoin network.
Danny Masters, Chairman of CoinShares, commented on today's news, "DGLD combines the stability of the world's most enduring asset, gold, with the security of the world's most resilient network, Bitcoin. You can now have the peace of mind of Swiss vaulted physical gold, with the same convenience, but not the same layers of middlemen, as owning a gold ETF."
"Gold has played a central role in the world's economic history, however holding the physical asset is not always easy, especially in large quantities, and is certainly not easily transferable. DGLD has the potential to transform humankind's interaction with gold," said Myles Milston, CEO of Globacap. "Digitisation and simplification is what we do. DGLD does this for gold, we have done this for shares and bonds. This product was a natural fit for our digital platform."
ABOUT GLOBACAP
Globacap is the market-leading automated capital markets platform for digital securities such as shares, bonds and funds. Globacap provides capital raising, securities administration, and custody services, each of which can be utilised independently. Globacap is based in London and regulated by the Financial Conduct Authority (FCA). For more information, please visit: globacap.com
