Matrixport’s RWA Platform Releases New Gold-Backed Token XAUm

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  • Crypto service supplier Matrixport’s RWA platform has introduced the launch of XAUm.
  • It’s an on-chain gold token that helps Ethereum and the BNB chain.
  • XAUm was launched on September 16, 2024.

MatrixDoc is increasing its RWA market with XAUm, an on-chain gold token totally backed by the London Bullion Market Affiliation's bodily gold bars. The LBMA bodily gold bars that again the on-chain gold tokens are 99.99% pure, MatrixDoc mentioned in an announcement.

XAUm shall be obtainable as an ERC-20 token on Ethereum and as a BEP-20 token on BNB Chain. Issuance is pegged 1:1 to at least one troy ounce of LBMA gold. Buying and selling assist is obtainable for USDT and USDC, the biggest stablecoins available on the market immediately.

There aren’t any administration charges for buyers, though the corporate does cost a flat 0.25% payment for each gold minting and redemption orders. In the meantime, Matrixdock shops the gold in a trusted vault.

In line with the platform, buyers can have the choice to redeem XAUm as stablecoins or bodily belongings, though customers might want to full KYC to redeem belongings, and bodily gold redemption shall be provided to shoppers via Matrixport's Hong Kong and Singapore providers.

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RWA market reaches $12.3 billion

XAUm's launch on RWA platform Matrixdock comes on the heels of the profitable debut of its short-term Treasury Invoice token. STBT provides accredited buyers entry to tokenized U.S. Treasury Payments (T-Payments). The tokens are pegged 1:1 to the US Greenback.

In line with information from RWA.xyz, the whole on-chain worth of real-world belongings is over $12.3 billion, and there are at present over 100 asset issuers.

The tokenized commodities market, which incorporates the worth of on-chain gold, silver and oil merchandise, reached $994 million, with the biggest issuers being Paxos, Tether, Comtech Gold, Aurus and WisdomTree.

By comparability, tokenized Treasury merchandise throughout the RWA market exceed $2.4 billion. BlackRock’s BUIDL, Franklin Templeton’s FOBXX, and Ondo Finance’s USDY are at present the three largest by market cap.

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