OpenLedger , the CCEDK owned transparent decentralized exchange, has added Ethereum based gold backed crypto-token DigixDAO asset (DGD), allowing users to trade DGD for Ethereum, Bitcoin and other digital assets on its platform.

DigixDAO is an organization that aims to create a new gold standard digital payments system on the Ethereum network. DigixDAO Token (DGD) is an Ethereum based asset that represents a portion of the DigixDAO (similar to shares). The DigixDAO cryptocurrency protocol is used for trading DigixGlobal’s gold backed digital tokens (DGX) on the Ethereum platform.

DGX or Digix Gold Tokens are Ethereum-based Gold Tokens that are backed 100% by gold and can be used to redeem physical gold. Each DGX is equivalent to 1 gram of gold and its value at any time is same as that of the equivalent amount of yellow metal. The platform charges a transaction fee of 0.13% per transaction, with a cap of 1 DGX per transaction. DGX holders can also redeem their digital gold token on the Digix platform for the equivalent in gold whenever they want.

The digital gold asset created by DigixGlobal (DGX) is currently available for purchase with Ethereum only. All sales are registered as Ethereum smart contracts, recording the value, transactions and other information on the Ethereum blockchain.

“Even though DigixDAO is initially making use of the OpenLedger’s Ethereum assets listing feature to list its DGD assets, it eventually intends to list DGX, the digital gold tokens on OpenLedger. This will allow people to buy DigixGlobal’s gold backed tokens directly from OpenLedger. Meanwhile, the DGD bought over OpenLedger can be transferred to the buyer’s Ethereum wallets”, the release said. “With such collaboration, it will become easier for people to buy any amount of gold directly over the cryptocurrency exchange platform using any digital currency.”

Once DGD coins are released today, the same IOU asset (OPEN.DGD) currently trading during pre-launch will become freely transferrable and withdrawable. Users will also be able to make DGD deposits to OpenLedger at that time.

OpenLedger is a trustless decentralized exchange that provides fiat gateway with USD, EUR and CNY, a bridge to bitcoin and other cryptocurrencies DOGE, DASH, Peercoin, Litecoin, NuBits, NuShares, BlockShares, and more. It is based on BitShares 2.0 MIT- licensed Graphene blockchain technology. The setting up of a new server at www.openledger.hk will enable accessing OpenLedger in the far east region much more quickly.