Paiblock Completes redemption of pre-MiCA Digital Ounce to focus on regulated services.
Greater Copenhagen, Denmark, January 10, 2025 — Paiblock announced today that it has completed redemption of all Digital Ounce issued between November 11, 2022 and December 31, 2024 to focus the company’s efforts on regulated stablecoins trading.
The redemption of pre-MiCA started in July 2024 as a the company’s continuous effort to discontinue unregulated financial services.
“Redeeming all pre-MiCA digital ounce was necessary for a fully regulated Asset-based Token to emerge.”, says Mark Arthur, Founder and CEO of Paiblock.
Digital Ounce was created on November 11, 2022, when FTX collapsed in bankruptcy. The creation of Digitalis Uncia was motivated by the need to bring about a coin that seeks to overcome the issues that led to the collapse of FTX; namely mismanagement of customers funds.
““BBC 11/Nov/2022 Crypto giant collapses in bankruptcy” has been encoded in the genesis block as a constant reminder of why Digital Ounce was created.” concluded Mr. Arthur.
About Paiblock
Paiblock provides a rich ecosystem of services that cuts across data-driven shopping, web3 payments, digital currencies trading, NFT marketplace, and self-sovereign identity.
Paiblock is built on four pillars: a highly personalised customer experience, a robust and secure digital environment, easy to use dApps, an engaging user journey from start to finish.
About Digital Ounce
Digital Ounce (DOZ) is a Asset-Backed Token (ABT) that is pegged to the ounce of gold.