Coincheck Launches Trading for Gold-Pegged ZPG Cryptocurrency
Coincheck has announced that it will begin trading ZPG (Zippang Coin), a cryptocurrency pegged to the price of gold, starting August 31st.
ZPG is an asset issued by Mitsui & Co. Digital Commodities and designed to track the price of gold. It will be available for purchase and sale on Coincheck's website and mobile app, as well as through the company's tsmitate service and lending platform.
This marks a shift from ZPG's previous trading history, which took place on BitFlyer Blockchain's private blockchain, miyabi. However, in April of this year, GMO Coin became the first domestic exchange to trade ZPG on Ethereum's Layer 2 network, OP Mainnet.
Coincheck will be using a public chain version of ZPG, which is based on ERC-20 and utilizes Fireblocks' ERC20F implementation. This provides additional management features such as token burning, freezing, and address restrictions.