Digix today revealed that it has partnered with Blucon to allow Blucon’s Korean users to pay for their daily purchases in gold. The deal will allow Digix’s gold-backed coins (DGX) to be accessed via the Blucon Card, which will enable Korean users of the card to pay for their everyday goods and services using gold-backed coins.
Digix is an online platform that facilitates the purchase of gold by guaranteeing its accessibility, security and transparency. Blucon is a digital payments platform that enables users to pay for physical goods and services using digital assets. Both firms have a global user base.
Digix’s Founder and CEO, Kai C. Chng, commented that:
Partnering with Blucon will propel Digix’s primary focus of democratizing gold as an asset by making it spendable and accessible. Korea is well-known for its vibrant gold sector, and we look forward to providing the wider population with the opportunity to spend this time-tested asset on everyday purchases just as they would spend Korean won.
Users of the Blucon Card will benefit from the lower transfer and service fees associated with making payments with DGX tokens, which will increase their cost savings. This will in turn further the growth of the crypto-as-payment campaign in Korea.
The deal will give Blucon access to Digix’s user base in South East Asian countries such as Indonesia, Singapore and Vietnam, where the company has a strong market presence.