- Matrixport’s RWA platform has announced the launch of XAUm.
- This is an on-chain gold token that will support both Ethereum and the BNB Chain.
- XAUm was launched on September 16, 2024.
Matrixdock expands its RWA offering with XAUm, an on-chain gold token fully backed by physical gold bars held at London Bullion Market Association (LBMA) facilities.
The LBMA-grade physical gold bars backing the on-chain token have a purity of 99.99%, Matrixdock noted in an announcement. XAUm will be issued as an ERC-20 token on Ethereum and as a BEP-20 token on the BNB Chain.
Each XAUm token is redeemable 1:1 for one troy ounce of LBMA gold. Trading support is available for major stablecoins currently active in the market—USDT and USDC. Investors will not incur ongoing custody fees.
Matrixdock will, however, apply a fixed fee of 0.25% for both minting and redemption orders. The company will store the underlying gold in reputable vaults. According to the platform, investors will have the option to redeem XAUm either for stablecoins or for physical gold bullion.
Physical redemptions will require completion of KYC procedures. Redemption of physical gold will be facilitated for customers through Matrixport’s Hong Kong and Singapore services.
RWA market reaches $12.3 billion
The launch of XAUm on Matrixdock’s RWA platform follows the successful debut of short-term treasury tokens. STBT gives accredited investors access to tokenized U.S. Treasury bills (T-Bills).
The token is pegged 1:1 to the U.S. dollar. According to RWA.xyz data, the total on-chain value of real-world assets has surpassed $12.3 billion. There are currently more than 100 asset issuers active in the space.
The tokenized commodities market, which includes on-chain gold, silver and oil, has reached $994 million in value. Leading issuers in this segment include Paxos, Tether, Comtech Gold, Aurus and WisdomTree.
By comparison, tokenized treasury products on the RWA market exceed $2.4 billion in value. BlackRock’s BUIDL, Franklin Templeton’s FOBXX and Ondo Finance’s USDY are presently the three largest treasury token offerings by market value.