Digix Lists Its Gold-Backed Token On Vietnamese VCC Digital Exchange

Digix Lists Its Gold-Backed DGX Token On Vietnamese VCC Digital Exchange

The listing of gold-backed DGX token on VCC digital exchange will allow Vietnamese customers purchase the tokens, which are pegged to investment-grade gold bullions, using Vietnamese Dong

Digix, creator of one of the firsts asset-backed digital gold token, has announced the listing of its gold-backed token, DGX, on the Singapore and Vietnam based VCC Exchange (VCC) in the continued expansion of the Digix trading network. The listing of DGX on VCC will allow Vietnamese customers purchase the tokens, which are pegged to investment-grade gold bullions, using Vietnamese Dong—substantially expanding the DGX trading ecosystem.

Shaun Djie, Co-Founder and COO of Digix, said: “Vietnam is fast becoming a bastion for digital assets consumption and blockchain development. We have seen a growing demand for digital assets within the country, as well as increased government and consumer interest in emerging blockchain technologies. As Vietnam’s appetite for digital assets grows, the listing of DGX on VCC exchange couldn’t be more timely. As expand Digix’s footprint in Southeast Asia listing DGX tokens on VCC will give Vietnamese retail investors far greater opportunity to purchase digital gold and unlock the benefits of this new asset class.”

Headquartered in Singapore, and with a base in Hanoi, Vietnam, VCC is one of the leading digital asset exchanges geared predominantly toward the Vietnamese market. Aiming to give Vietnamese retail investors the opportunity to diversify their portfolios through the purchase of digital asset classes in a safe and transparent environment, VCC is built on the industry-leading, Bittrex platform. The introduction of DGX to the exchange follows the onboarding of numerous digital assets in recent weeks, which have seen more than 14 leading cryptocurrencies such as Enjin Coin, DASH, and Lisk join consumer favourites, bitcoin, Ethereum, and Ripple’s XRP on the platform.

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. The company has registered physical gold bars on the blockchain, and has pegged each DGX token to 1 gram of London Bullion Market Association approved physical gold. Available online, DGX significantly simplifies the process of investing in traditional gold markets—for retail and institutional investors alike.

Thomas Dao, CEO of VCC Exchange, said: “Digix is a well-known pioneer in the development of digital gold, and is an exciting new addition to the growing number of token listings on VCC exchange. By introducing DGX to the VCC platform we hope to allow our users to enjoy the benefits of digital gold, at a time when digital asset markets are growing more mature and traditional financial markets are trending downward. This is a part of our broader efforts to expand the number of possibilities available to our users and to provide them with an optimal trading experience.”

The introduction of DGX to VCC exchange comes just days after the announcement that the gold-backed digital asset had been listed on Switcheo, a leading decentralised exchange based in Singapore. Both listings mark the continued efforts of the company to further expand the Digix network and to increase the availability and accessibility of DGX in SouthEast Asia.

VCC began listing DGX on 2 December 2019 at 13:00 SGT (UTC+8).  The listing is now live with the VND trading pairs with the gold-backed token immediately available for trading. Exchange users who purchase DGX tokens will enjoy the possibility of exchanging their token back to Digix to redeem physical investment-grade gold bullion in Singapore and Canada.