Crypto 2.0 startup DigitalTangible has announced it will rebrand as Serica (Greek for silk), a move that marks an expansion of the digital asset trading service beyond precious metals.
Launched in September 2014, DigitalTangible has long used Counterparty to allow users to trade between bitcoin and cryptographic tokens representing physical precious metals holdings. As Serica, the company aims to expand this model, allowing anyone with the rights to an asset to create digital tokens that can then be traded on a global market.
Serica CEO Taariq Lewis suggested that the move was a strategic one, led by customers who saw the potential of the service to evolve its formerly niche offering. Whereas DigitalTangible targeted bitcoin traders who sought to use gold’s relative price stability as a safety net, Serica uses digital asset trading to allow owners of physical property to trade it in digital form.
Lewis told CoinDesk:
“We have customers that want to invest in US-based assets. By having customers come to us and say we have asset rights to sell, Serica will custody those rights and that means that our other customers can now participate in these investments, whether