Global blockchain developer DGE which is based in Seoul, South Korea, Launched Digital Gold Exchange((www.dgex.biz) and Cryptocurrency Exchange COINZEUS(www.coinzeus.io) opened Beta Service on December 31st.
In addition to its gold supply agreement with Korea Gold Exchange 3M early this year, DGE's open beta service of its DGEx presents the beginning of blockchain service that enables exchange between cryptocurrency and gold.
DGEx is an online trading platform that enables purchase of gold and digital gold MDG using the platform token TMTG (The Midas Touch Gold). To buy or store gold, users would buy TMTG, and exchange it with MDG, which can be converted to actual gold. The platform also allows the exchange of actual gold to MDG.
JA.E., CPO of DGE said, "The open beta test service of DGEx and COINZEUS will focus on stability of the two platforms. Gold exchange will be authorized to users who have completed KYC and AML procedures. We will also limit the daily maximum gold supply." He also added, "The company homepage is being renewed and the new homepage will provide more useful information for the users."
Thomas Eom, CTO of DGE commented, "From the platform demonstration on Dec. 18th, we are confident that the platform is ready for the public. The beta service period will be an opportunity for us to improve any glitches on the system such as crypto-to-gold exchange device, reserve control, and etc." Eom also emphasized the importance of the open beta service as a testing ground for the "autonomy of blockchain and stability of market through central control, which are the two main values of DGEx." DGE has completed its patent application on "Blockchain based Reserve Control System" in the U.S., Singapore, Mainland China, Japan, and Hong Kong in October.
On the other hand, DGE's own cryptocurrency exchange COINZEUS is expected to gain as much attention as DGEx. According to DGE, COINZEUS is being developed by experts who has know-how on exchange development for future practicability, governance, and expandability. Thus COINZEUS is expected to compete with established global cryptocurrency exchanges. COINZEUS is planning to hold early registration event from Dec. 26th to 30th (UTC).
Nathan Ryu, CEO of DGE said, "Most of cryptocurrency and blockchain companies are going through a tough time due to plunging prices of Bitcoin, Ethereum, and other major coins. We hope that our open beta service could stimulate cryptocurrency market."