Asset Tokenization Platform Digix Partners With Republic Protocol To Allow Crypto To Gold Trading

Blockchain | February 14, 2018 By:

Smart asset technology platform Digix has partnered with a decentralized dark pool exchange Republic Protocol to enable crypto-to-gold trading.

Founded in 2014, the Digix platform tokenizes physical assets on ethereum. The company leverages the distributed ledger for its immutability, transparency and auditability by applying it to precious physical assets. Digix has created a range of technologies including The Proof of Asset Protocol (POA) and Digix Gold Tokens (DGX) on ethereum. Digix is the creator of DGX tokens, a gold-guaranteed cryptocurrency using ethereum.

Republic Protocol facilitates cross-chain atomic trades on a hidden order book over the ethereum and bitcoin networks. Miners within the protocol run equation solving nodes to earn REN tokens and match orders without revealing the underlying trade until execution. The system claims to create trustless trading system for large block orders enabling ERC-20, ethereum, and bitcoin pairs to be executed with minimal price slippage and provides protection from front-running.

Last month, Republic Protocol announced a blockchain based “dark pool” for cryptocurrency trading. A dark pool is typically a private securities exchange where investors, usually institutional money, are able to make trades anonymously. Dark pools are estimated to represent ​approximately 10%-15%​ of the trading volume of all US stock trades.

Under the partnership, Republic customers will be able to trade BTC, ETH, or any ERC-20 digital assets on a hidden order book directly with DGX tokens, which are redeemable for one gram of 99.99% LBMA standard gold per token.

The companies stated that they will be offering cryptocurrency investors a secure, private, and stable way for them store or invest their assets when the trading platform launches on the ethereum mainnet in Q3 of 2018.

Taiyang Zhang, CEO of Republic Protocol, said the goal is to give their customers the flexibility to easily move their digital assets without adversely affecting the overall stability of the markets.

“By partnering with Digix, we will now be providing them with the opportunity to transfer their assets to the one of the most stable storages of wealth throughout history: traditional gold,” said Zhang.

Shaun Djie, COO of Digix, said DGX tokens will provide a stable, gold-backed digital asset for investors looking to secure their wealth and hedge against the volatile markets.