The Singapore-headquartered blockchain company Pundi X announced the official launch of DigixGlobal in the Pundi X payment system. This listing of DGX enables users of the DGX card to pay for their transactions using DGX at any XPOS-enabled counters.
Basically, DigixGlobal is the world’s first smart asset company using blockchain technology. Here, investors are issue with the equivalent digital proof, called DGX. Thus, Each digital equivalent of DGX is registered to a physical unit of gold in Digix’s vaults in Singapore or Canada.
COO and co-founder of DigixGlobal
“In our philosophy of applying blockchain to dynamically account for the provenance, movement and storage of tradable physical gold, we have seen the possibility of harnessing gold more flexibly as a means of value exchange beyond a traditional asset class. By allowing our digital credits to circulate on XPOS, we intend to showcase practical and useable payment options, with the safety and accountability of blockchain. This process encompasses DigixGlobal’s spirit of deeper financial inclusivity for future generations,” said Shaun Djie,
Additionally, With this listing, Pundi X encompasses a fully fledged payment ecosystem consisting of an e-Wallet (XWallet), point-of-sales devices (XPOS) and NFC-enabled payment cards (XPASS cards).
Following this partnership, Digix is introducing 3,000 customized XPASS cards to partners, corporate customers, future event attendees and other users of Digix. Moreover, this allows them to make purchases using DGX as a means of exchange at Pundi X-approved merchants across Singapore.
Zac Cheah, founder & Chief Executive Officer of Pundi X Said
“Empowering technology developers to innovate, and businesses to incorporate elements of blockchain, is at the heart of Pundi X’s vision. Aligning with DigixGlobal has been a natural choice. Our goal of providing more payment flexibility to merchants aligns with DigixGlobal’s vision for greater financial inclusion and asset liquidity. We see our partnership as complementary to furthering Singapore’s smart-city and cashless payment future,”
Overall, the main aim of Digix is to unlock the fungibility of traditionally illiquid asset classes and create new avenues of financial inclusion for the future.