Melotic is an exchange that allows its users to trade digital assets using Bitcoin. Customers will be able to trade their Bitcoin and gold on the Chinese crypto-gold platform.
DigitalTangible is introducing an interesting feature in order to verify the assets held by companies called Proof of Custody. This allows for transparent, effective, and secure control of the assets held by customers. Users can also convert their gold holding into digital currency for redemption anywhere Bitcoin is accepted.
From what we can see regarding Melotic, one of the important features it offers is its ability to offer low transaction fees while offering a user-friendly interface in order to deliver liquidity options when trading gold assets.
Transaction fees range from 0.05% to 0.25%, which is quite low when compared to some of its competitors. Melotic customers can also withdraw their asset holdings of Pamp Suisse tokens in order to receive physical delivery of said tokens across the United States or Asia.
Melotic’s CEO Jack Wang commented on the partnership:
“Digital Tangible is the only service that links real physical commodities to a blockchain, stores it in provable custody through its gold partnerships, and also enables customers to take delivery of the goods. They have effectively put gold into the Bitcoin Blockchain, which allows customers from all over the world to invest and trade in assets in a way that was previously impossible. Melotic is excited to be a partner."
Founder and CEO Taariq Lewis commented on the expansion into Asia:
“We have received immense Asia demand from customers looking to profit from trading between gold and Bitcoin. Our solution expands on the Bitcoin Blockchain Protocol to allow anyone to purchase and trade gold assets more flexibly and cheaply than was ever possible before.”
No matter the business, a company’s expansion marks the beginning of a new era for said company, and hopefully will bring the best of DigitalTangible to the fore.
Yet, the expansion into a continent such as Asia is huge when we consider how important it is in the Bitcoin and gold markets. This partnership could be the start of great things for the companies involved, and it would never hurt to have a new competitor in both the gold and Bitcoin markets.
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