Matrixport, a leading crypto services provider, has recently made a significant announcement regarding the launch of their latest offering on the RWA platform – the XAUm gold-backed token. This innovative on-chain gold token is set to support both Ethereum and BNB Chain, providing investors with new opportunities in the digital asset space.
The launch of XAUm took place on September 16, 2024, marking a new milestone for Matrixport and their RWA platform. What sets XAUm apart is its backing by physical gold bars from the London Bullion Market Association (LBMA) with an impressive purity of 99.99%. This ensures that each token is fully backed by tangible assets, adding a layer of security and stability for investors.
Investors looking to participate in the XAUm ecosystem can do so through two main channels – as an ERC-20 token on Ethereum or as a BEP-20 token on the BNB Chain. The issuance of XAUm is pegged at a 1:1 ratio to a troy ounce of LBMA gold, providing a transparent and reliable valuation for the token. Additionally, trading support is available for popular stablecoins such as USDT and USDC, making it easier for investors to access the XAUm market.
One of the key advantages of investing in XAUm is the absence of management fees for investors. However, Matrixport does charge a flat rate of 0.25% for both minting and redemption orders, ensuring transparent and fair pricing for all participants. Furthermore, the company will custody the physical gold at reputable vaults, safeguarding the underlying assets and providing peace of mind for investors.
For investors looking to redeem their XAUm holdings, Matrixport offers the option of converting them into stablecoins or physical assets. To facilitate this process, users will need to complete KYC requirements, with physical gold redemption services available through Matrixport’s Hong Kong and Singapore operations. This flexibility gives investors the choice to liquidate their holdings in a way that best suits their needs and preferences.
The launch of XAUm on the RWA platform comes on the heels of the successful introduction of the Short-term Treasury Bill Token (STBT), which grants accredited investors access to tokenized US Treasury bills. With a 1:1 peg to the US dollar, STBT has garnered significant interest from the investor community, showcasing the growing demand for tokenized real-world assets.
According to data from RWA.xyz, the total on-chain value of real-world assets has surpassed $12.3 billion, underscoring the increasing adoption of tokenized assets in the digital space. With over 100 asset issuers currently active in the market, there is a diverse range of investment opportunities available to investors looking to diversify their portfolios.
In particular, the tokenized commodities market, which includes gold, silver, and oil products, has reached a value of $994 million, with prominent issuers such as Paxos, Tether, Comtech Gold, Aurus, and WisdomTree leading the way. On the other hand, tokenized treasuries products have exceeded $2.4 billion in market value, with offerings from industry giants like BlackRock, Franklin Templeton, and Ondo Finance gaining traction among investors.
As the digital asset landscape continues to evolve, the integration of real-world assets into blockchain networks offers new possibilities for investors seeking exposure to traditional markets in a digital format. With the launch of XAUm and other innovative tokenized products, Matrixport is at the forefront of this trend, bridging the gap between traditional finance and the digital asset space. Investors looking to diversify their portfolios and explore new investment opportunities can now turn to platforms like Matrixport to access a wide range of tokenized assets and participate in the future of finance.