Share this article
CoinShares, Blockchain Launch Gold Token Network on a Bitcoin Sidechain
Two years in the making and already backed by some $20 million in digitized gold, CoinShares announced the DGLD token Tuesday.
Updated Sep 13, 2021, 11:34 a.m. Published Oct 15, 2019, 8:01 a.m.
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
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 bitcoin state, with DGLD operating as a sidechain of the bitcoin network.
“DGLD combines the stability of the world’s most enduring asset, gold, with the security of the world’s most resilient network, Bitcoin," Masters said in a statement.
Built on blockchain firm CommerceBlock's Ocean sidechain platform, the DGLD network is notable in that it combines financial security – the bitcoin network's immutability and Swiss vault storage – while still facilitating low-friction trading, said Masters.
He continued:
“You can now have the peace of mind of Swiss vaulted physical gold, with the same convenience, but not the same layers of middlemen, as owning a gold ETF.”
CoinShares says the product is available for both retail and institutional investors and will be available in over 200 countries on Blockchain’s cryptocurrency exchange, The PIT.
UPDATE (15, October 14:00 UTC): This article was updated to reflect blockchain firm CommerceBlock's participation in the project.
Gold bar image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Filecoin Trades Little Changed, Underperforms Wider Crypto Markets
The token has major support at the $1.36 level and resistance at $1.40.
What to know:
- Filecoin slipped 0.2% to $1.37 over the last 24 hours.
- Trading volume was 29% above weekly averages as institutional flows accelerated.
Top Stories
