- Crypto companies supplier Matrixport’s RWA platform has introduced the launch of XAUm.
- That is an on-chain gold token that may help Ethereum and BNB Chain.
- XAUm launched on September 16, 2024.
Matrixdock is increasing its RWA market with XAUm, an on-chain gold token backed totally by bodily gold bars on the London Bullion Market Affiliation. The LBMA bodily gold bars backing the on-chain gold token have 99.99% purity, Matrixdock famous in an announcement.
XAUm can be out there as an ERC-20 token on Ethereum and as a BEP-20 token on the BNB Chain. Its issuance is pegged 1:1 to a troy oz. of the LBMA gold. Trading help is out there for the biggest stablecoins out there immediately – USDT and USDC.
Traders is not going to incur any administration payment. Nonetheless, the corporate will cost a 0.25% flat price for each minting and redemption orders. In the meantime, Matrixdock will custody the gold at respected vaults.
In keeping with the platform, buyers can have an possibility of redeeming XAUm as stablecoins or bodily belongings. Nonetheless, customers must full KYC to redeem the belongings, with bodily gold redemption out there to clients by way of Matrixport’s Hong Kong and Singapore companies.
RWA market up to $12.3 billion
XAUm’s launch on the RWA platform Matrixdock comes after the profitable debut of the Brief-term Treasury Invoice Token. STBT gives accredited buyers entry to tokenized US Treasury payments (T-Payments). The token is pegged 1:1 to the US greenback.
Per RWA.xyz information, the whole on-chain worth of real-world belongings has hit over $12.3 billion. There are also at the moment greater than 100 asset issuers.
The tokenized commodities market, which incorporates the worth of on-chain gold, silver and oil merchandise, has reached $994 million. Greatest issuers are Paxos, Tether, Comtech Gold, Aurus and WisdomTree.
As compared, tokenized treasuries merchandise throughout the RWA market has surpassed $2.4 billion. BlackRock’s BUIDL, Franklin Templeton’s FOBXX and Ondo Finance’s USDY are at the moment the three largest by market worth.