DGE — a blockchain developer based in South Korea, listed its cryptocurrency TMTG on IDCM Exchange in Hong Kong on August 2nd. And as of August 10, it has surpassed XRP in coin market value.
DGE, whose slogan is “convergence of virtual and real values,” has entered the competitive cryptocurrency market with a new coin that will be tied directly to the value of gold and allow users to exchange cryptocurrency to real gold.
According to a DGE official, last year, many coin developers were focusing on their coin technology, without contemplating on adding stability to their ecosystem by including exchange or use mechanisms.
While various global chains such as McDonalds and Starbucks are entering the cryptocurrency market through various new coins, their use will be limited in scope and practicality mainly as payment systems for their customers. Coins with weak or unprepared ecosystems will have to start actively creating their own ecosystem or find a suitable one.
Before launching TMTG, DGE has focused on creating a stable and strong ecosystem.
DGE has partnered with Korea Gold Exchange, Vau Diamond Exchange, and is in the process of securing partnerships with additional global gold exchanges. The direct correlation between the value of a coin and real gold creates a new ecosystem that can also be used for reliable and stable asset distribution and withdrawal. DGE is also developing partnerships with global service providers and development of its own crypto game.
In addition to its successful listing on IDCM on August 1st, TMTG is anticipating its second listing in cryptocurrency exchange CoinSuper on August 16th.