Wrapped – DGLD brings Gold to Swiss vault to Ethereum | by Amadeo Pellicce | @blockchain | Nov, 2020

Last year we partnered with Coinshares to launch DGLD, a digital asset representing allocated physical gold stored in a Swiss vault. A common request from keen investors was more ways to access and use DGLD, and to give users the option to store DGLD wherever they store their other crypto.

Today we are excited to grow that partnership with Coinshares to support the launch of DGD wrapped (wDGLD), a 1: 1 Gold-pegged ERC-20 token. It combines the appeal of a gold-backed asset like DGLD – available for trading on the Blockchain.com Exchange – with the accessibility and flexibility of an ERC-20 token that you can use on the Blockchain.com Wallet or anywhere in the Ethereum Network.

With more and more transformation between gold investors and crypto investors, we are excited to provide the opportunity to trade or hold truly digital gold in new and exciting ways. WDGLD is available to trade on the Blockchain.com Exchange today and at the Blockchain.com Wallet on the web and mobile. Be sure to update to the latest version of the app to make the most of this feature.

For your information, what is DGLD? How does it work?

DGLD is a digital asset representing physical gold that is stored in a Swiss vault, and docked with a side chain built on the Bitcoin network. In doing so, we empower the convenient purchase of gold, 24/7, with the independence of physical gold ownership.

Each DGLD ticket is digitally equivalent to 1 / 10th troy ounce of gold, bolted in Switzerland. Before creating a new ticket, gold is allocated and placed in the vault. Then, DGLD representing that particular gold is created and sent to DGLD’s wallet. This simple method releases physical gold and makes it digitally usable and physically repayable.

How is DGLD wrapped?

Wrapped-DGLD (wDGLD) is an ERC-20 token that resides on the Ethereum network representing a unit of DGLD. It resides as a smart contract on the Ethereum network where all its transactions are auditable and public. You can buy, sell or exchange wDGLD against any other supported crypto native asset in our network.

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