Digix

Digix was a Singapore-based blockchain and financial technology company focused on connecting physical assets with digital ownership. Founded in 2014 and publicly branded as DigixGlobal, it developed gold-backed tokens and infrastructure for documenting the assets behind them on Ethereum.

Its principal product, Digix Gold Token (DGX), represented ownership of physical investment-grade gold. Each token corresponded to one gram of 99.99% gold sourced from London Bullion Market Association-approved refiners. The platform supported fractional ownership and digital transfers, with facilities for holders to redeem tokens for physical bullion.

Asset-backed infrastructure

Digix developed its Proof of Provenance protocol to connect physical bullion records with blockchain transactions. Its approach combined asset documentation, custody records and independent inspection with Ethereum smart contracts and the InterPlanetary File System. This infrastructure was intended to make the provenance and backing of tokenized assets available for public verification.

The company's marketplace and governance portal supported identity-verified minting, peer-to-peer purchasing and gold redemption. Its work brought together blockchain development, precious-metals custody and independent verification, serving the intersection of digital assets and traditional commodities. DGX also appeared in integrations with decentralized finance protocols and point-of-sale providers.

Governance and wind-down

Alongside DGX, the company developed DigixDAO, a decentralized governance organization associated with the DGD token. Token holders voted to dissolve the DAO in January 2020 following the community proposal known as Project Smörgåsbord or Ragnarök. The dissolution involved burning DGD tokens and distributing the DAO's underlying Ether reserves to holders.

Digix subsequently withdrew its Payment Services Act licensing application in September 2022. It ceased operations on March 21, 2023, closing its platform and transferring outstanding physical gold redemption handling to NexusGold FZC. Its website and product domains are historical resources associated with the former business.