Direct flight-to-safety with gold for volatile crypto assets launched by DACX & US Gold Currency together with Blockfills
LONDON, UK / ACCESSWIRE / February 4, 2020 / Digital Asset & Commodity Exchange and US Gold Currency together with Blockfills have partnered to launch the world’s first crypto-gold & fiat stablecoin-gold pairs market.
US Gold Currency, Inc. (USGold) is the issuer of the USG Token, each USG is a digital asset – a direct representation of an American Eagle one-ounce gold coin, minted by the United States of America. The holders of USG tokens given at any time may redeem their USG tokens for the physical gold coin (1:1).
USG tokens are digital assets issued and administered via a Smart Contract on Ethereum, a blockchain-based distributed computing platform. Providing immutable transparent transactions for safety and accuracy. Every American Eagle one-ounce gold coin backing a USG token is stored in a fully insured, secure vault, and audited annually by an independent third-party auditing firm.
With DACX introducing a direct flight-to-safety for crypto assets in gold pairs such as BTC/USG, ETH/USG & USG/USDT, ensures stability in the crypto financial ecosystem (i.e. the global crypto market cap). Consumers and businesses benefit from a secure digital asset token that is not subject to the volatile swings of the markets, and from the opportunity to easily exchange their digital currency into a tangible asset: monetary gold coins produced by the U.S. Mint.
Blockfills, one the world’s largest providers of digital asset liquidity will be responsible for the pairs for execution, maintaining DACX’s mission to provide institutional-grade technology and liquidity to their global client base.
Zeeshan Chaudhry, Founder | CEO of DACX, said:
“DACX is bridging the divide between securities, real estate, commodities and digital assets to address a subset of financial inclusion. Our aim is to introduce innovative products for institutions and at the same time provide equal opportunities for average investors, by leveraging tokenization and fractionalization towards assets and commodities
We want to enable a level playing field for every type of investor, our first step was to provide a direct flight-to-safety with gold for crypto assets during high volatility risk-off events for improved risk management. This would bring more confidence and stability to the digital asset ecosystem, as well as adds further liquidity to traditional markets. From an institutional standpoint this optimizes portfolio returns via efficient hedging and risk minimization.”
Robert Lotter, CEO of USGold said:
“We are proud to introduce the USG Token. It’s a new digital asset which functions as a true digital currency based on monetary gold – which provides stable-value and is backed One to One (1:1) by an American Eagle one-ounce gold coin. The USG provides a unique set of benefits, including liquidity through a simple redemption process.”
Neil Van Huis, Director of Blockfills said:
We at Blockfills are excited by the long awaited introduction of USG to the public markets together with US Gold Currency and DACX. The validity of this product and it’s use in digital asset markets is just the beginning for what we believe will be a successful future for our partnership providing liquidity to DACX.
About DACX: Digital Asset & Commodity Exchange (dacx.io & dacx.exchange) is a London-based digital asset platform which leverages artificial intelligence, high performance computing and distributed ledger technology, to facilitate cross border transfer and settlement of monetary and material value via tokenization, smart contracts and escrows in an efficient, secure and compliant framework.
About US Gold Currency, Inc: USGold (BuyUSGold.com) is the issuer of the USG Token, each USG is a digital asset and direct representation of an American Eagle one-ounce gold coin, as minted by the United States of America. Our operations are based in Jackson Hole Wyoming USA. We are registered with the United States Treasury – Financial Crimes Enforcement Network (FinCEN), as a Money Services Business (MSB) and have an A+ Rating from the Better Business Bureau.
About Blockfills: Blockfills is a global financial services technology and trading firm which provides liquidity, execution and clearing of digital assets to institutions across time zones and geographies.