Coinshares, Blockchain Launch DGLD Gold Token as a Bitcoin Sidechain

A consortium of companies launched a gold-backed token with the DGLD ticker on a Bitcoin (BTC) sidechain. Swiss financial news outlet AllNews reported on Oct. 15 that digital asset managers CoinShares and MKS, as well as wallet service provider Blockchain, announced the launch of the token. Its development took two years and the supply of the token is already worth over $20 million. Meanwhile, the physical gold is held in vaults managed by bullion brand PAMP in Ticino, Switzerland. It is tokenized using the Ocean Bitcoin sidechain developed by blockchain…

Coinshares, Blockchain Launch Gold Token Network on a Bitcoin Sidechain

Digital asset manager CoinShares is putting gold on the bitcoin blockchain. Working with wallet provider Blockchain and precious medal trader MKS (Switzerland) SA, the U.K.-based firm announced Tuesday a gold-backed network for trading tokens representing digitized physical gold, a project two years in the making. According to CoinShares, the network launches today with more than $20 million in gold held in a Swiss vault to back up its tokens. Each DGLD token is backed by 1/10th troy ounce. CoinShares chairman Danny Masters said the product’s network security is based on the…

SEC Draws on Investor Communications to Halt Telegram Token Launch

To justify halting the launch of Telegram’s long-awaited $1.7 billion blockchain project, the Securities and Exchange Commission (SEC) relied heavily on communications obtained from investors. In September, the regulator contacted U.S.-based investors, requesting information about what details were being shared by the company to support the TON token offering, according to Yakov Barinsky, CEO of the crypto investment firm HASH CIB, who consulted for some of the funds that invested in TON. “I know that the SEC reached out to them asking how the deal was arranged, what information TON shared,…

Telegram Could Postpone Crypto Issuance After US Halts Token Sale

Telegram could delay the original plan of issuing its own cryptocurrency on the Telegram Open Network by Oct. 31 after the U.S. Securities and Exchange Commission (SEC) ordered it to halt the allegedly “unlawful” token sale in the country. According to a report from Bloomberg on Monday, Telegram sent a note to investors saying it is considering ways to resolve the temporary restraining order from the SEC , including the possibility of postponing the issuance after the Oct. 31 deadline. The SEC said on Friday last week that it filed…

Privacy Coin Zcash Community to Develop Wrapped Token for Ethereum

The privacy-focused cryptocurrency Zcash (ZEC) is seeking access to Ethereum’s decentralized finance (DeFi) ecosystem. Zcash’s shielded addresses on the Ethereum network On Oct. 13, Coindesk reported that the topic of interoperability was the theme of the now concluded Devcon 5 developer conference in Osaka, Japan, where a number of smaller cryptocurrency projects displayed interest in accessing Ethereum’s DeFi ecosystem. Summa co-founder, James Prestwich, told the news outlet: “Connecting to other chains doesn’t seem to be an Ethereum developer’s priority, but other chains seem to want to connect to Ethereum.” Developers…

tZERO-Backed Startup Seeks SEC Approval to Launch Security Token Market

A firm part-owned by Overstock’s tZERO is seeking regulatory approval to launch one of the first markets for publicly traded, registered security tokens. The Securities and Exchange Commission (SEC) on Friday released a rule change proposal that would allow Boston Securities and Token Exchange (BSTX) to create an automated equity trading platform, with ownership records stored on the ethereum blockchain. Unlike its 50 percent shareholder tZERO, whose own trading platform went live in January and handles security tokens exempt from SEC registration requirements, BSTX would list only tokens that are…

TZero-Backed Startup Wants to Launch Security Token Market

Boston Security Token Exchange (BSTX), a platform jointly owned by BOX Digital Markets and Overstock’s blockchain arm tZERO, has filed an application with the United States Securities and Exchange Commission (SEC) to approve the launch of a market for publicly traded registered security tokens. In the rule change proposal released by the SEC on Oct. 11, BOX asks the commission to “adopt rules to govern the trading of equity securities on the Exchange” which “would operate a fully automated, price/time priority execution system for the trading of ‘security tokens.’” Establishing…

Binance Adds XRP-Pegged Token to Its Decentralized Exchange

Binance, the world’s top cryptocurrency exchange by volume, announced Thursday the issuance of the second cryptocurrency ever onto its affiliated decentralized exchange (DEX), Binance Chain. Listed as XRP-BF2, the XRP variant is pegged one-to-one to XRP on Binance’s main exchange for instant swapping without slippage, the exchange said. Binance minteds 10 million XRP-BF2 for the DEX. XRP-BF2 is preceded by a June 2019 addition of a pegged variant of bitcoin, BTCB. “All XRP issued on Binance Chain will be backed 1:1 by native XRP sitting in a publicly disclosed address…

Australia’s Gold Mint Is Backing a Crypto Token Based on Ethereum

Australia’s only bullion mint is backing a new digital token aimed to allow investors to trade the precious metal in real time. The Perth Mint Gold Token (PMGT) was launched by InfiniGold on Friday, and is backed 1:1 by GoldPass certificates issued by The Perth Mint. The digital certificates are 100% gold backed and guaranteed by the Government of Western Australia, which is the sole owner of the 120-year-old mint. “PMGT is digitized gold that allows users to conveniently acquire and have entitlement over government guaranteed physical gold stored at The Perth Mint in…

FC Bayern Munich Announces Digital Token to Boost Fan Engagement

Germany’s FC Bayern Munich has become the latest football club to announce blockchain-based merchandise for fans. As reported Oct. 11, the club will partner with Stryking Entertainment to produce digital collectibles of its players. Play FC Bayern Munich past vs. present The collectibles will take the form of digital player cards with the likenesses of FC Bayern Munich players, past and present. Stryking is also creating a fantasy-league style challenge for the cards, offering a gameplay aspect to the collectibles. Fans can build virtual squads and play each other with…