The team behind Dragon Coin (DRG), a token targeting the gaming, entertainment and sports industries, has announced in its latest blog post that they are to partner with Thailand-based currency exchanger, Superrich.
In one of this year’s biggest ICOs to date, Dragon Coin raised funds for their ERC20 compatible token, DRG, which can be exchanged for physical DRC coins which in turn are used as chips at its casino tables, some of which are to be hosted at its Macau-based floating casino, currently in its planning stage.
Breaking into Retail
Superrich have around 40 retail outlets, mainly in and around the Bangkok area, and have over 50 years of operational history of exchanging money for Thai and foreign nationals.
By signing a memorandum of understanding (MOU), both companies have signalled their intent to list and trade DRG alongside all of the major fiat currencies.
Following the MOU and approval from both legal teams, the aim is to start the first exchanges of DRG within 60 days.
Prof. Piya Tantivachyanon, President & CEO of Superrich said that “We’re offering customers more choice and convenience when they exchange money. This new capability we’ve developed with Dragon Token (DRG) means customers will be able to exchange digital currency, with speed and ease.”
Dragon’s co-founder Paul Moynan explained that “Dragon is acting as a platform bridging traditional financing and forex exchange world into the new innovative world of blockchain. Dragon is also the first benchmark of a utility token that has live monthly multi-billion dollar businesses attached to it, which requires our clients to be able to purchase the Dragon Token to access the platform.”
Exchanging DRG for fiat currency at Superrich will under go the usual KYC and AML procedures that are required by all legalised and authorised money exchanges. DRG currently trades on the secondary market at around $1 per token.