CoinShares Launches “Digital Gold” Token on Bitcoin Sidechain


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This is pretty cool. Glad to see gold and digital gold becoming one with each other. With the added fact, two gold pegged coins are coming to bitcoin platforms end of this year/start of next year. CoinShares and Blockchain has launched a gold-backed token dubbed the “digital gold” (DGLD) token to be tokenize on the Bitcoin platform. It was in development for about two years with the DGLD network launched on October 15, 2019, with a supply reported to be backed by about $20 million worth of physical gold, stored in the vault of Swiss-based custodian PAMP.

Key take aways: 

  1. The gold has been tokenized on the Ocean Bitcoin sidechain, a network developed by blockchain firm CommerceBlock.
  2. Each DGLD token will be worth the equivalent of a tenth of a troy ounce of the gold stored in PAMP’s vault.
  3.  backed by about $20 million worth of physical gold
  4. DGLD will be available sometime in Q4 2019.

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