Blockchain Developer DGE Opens COINZEUS Crypto Exchange and Digital Gold Exchange (DGEx)
Blockchain Developer DGE has recently announced they have launched two crypto exchanges in beta, namely Digital Gold Exchange (DGEx) and cryptocurrency exchange COINZEUS.
DGEx is meant to be trading exclusively in gold while COINZEUS is a more conventional exchange.
The soft launch took place at the end of last month, letting users play around with the trade interface of both exchanges and also test its other features. Speaking in detail about this the CPO of the company, JA.E noted:
“The open beta test service of DGEx and COINZEUS will focus on the 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.”
What Is DGEx
DGEx is the new trading platform that lets users buy and sell gold and MDG. MDG is the ‘ digital gold' that interacts with the native currency of the ecosystem, The Midas Touch Gold [TMTG]. Using TMTG, the exchange lets people convert gold to MDG and vice versa.
This comes after the blockchain firm secured a supply agreement with Korea Gold Exchange 3M. The value of MDG is backed by an actual value in gold. And if all goes well, the introduction of other rare metals and gems is very much on the cards
Speaking about the beta release the CTO of DGE, Thomas Eom, confidently noted:
“From the platform demonstration we are confident that the platform is ready for the public.”
He went on to explain the rationale behind releasing a beta service stating that this 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 then shifted focus on DGEx two main driving forces,
“autonomy of blockchain and stability of the market through central control”
By late October last year, DGE had already completed its patent application on “Blockchain based Reserve Control System” in a host of Western and Far Eastern countries.
Thus post-launch the feedback will be incorporated into the final version and the service should be ready for launch later in the first quarter of this year.
What Is COINZEUS
As mentioned, DGE has also launched its own cryptocurrency exchange, COINZEUS. While not as exciting as the other offering, DGE top brass is thrilled about this one as well. With some of the top brains in the industry at work, the company hopes the experts in exchange development have been able to consider practicability, governance, and expandability to give this offering a unique touch.
In a statement by the CEO of DGE, Nathan Ryu, he expressed his optimism about the exchanges chance even in these trying times. He stated,
“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 the cryptocurrency market.”
In all this excitement, DGE was rather silent about regulatory and potential license issues for running these platforms on a larger scale in different countries with different fiscal laws.
However, any such venture only strengthens the blockchain movement and as such should be given an opportunity to thrive.