- Crypto service supplier RWA platform Matrixport has introduced the launch of XAUm.
- That is an on-chain gold token that can assist Ethereum and BNB Chain.
- XAUm was launched on September 16, 2024.
Matrixdock expands its RWA market with XAUm, an on-chain gold token totally backed by bodily gold bars on the London Bullion Market Affiliation. The bodily LBMA gold bars that again the on-chain gold token are 99.99% pure, Matrixdock famous within the announcement.
XAUm shall be accessible as an ERC-20 token on Ethereum and as a BEP-20 token on the BNB chain. Its emission is tied 1:1 to the Trojan oz. of LBMA gold. Buying and selling assist is on the market for the most important stablecoins available on the market at this time – USDT and USDC.
Buyers is not going to pay any administration charges. Nevertheless, the corporate will cost a flat charge of 0.25% for each mint and redemption orders. Within the meantime, Matrixdock will retailer the gold in respected vaults.
In line with the platform, traders could have the choice to redeem XAUm as stablecoins or bodily belongings. Nevertheless, customers might want to full KYC to redeem belongings, with bodily gold redemption accessible to clients by means of Matrixport companies in Hong Kong and Singapore.
RWA market as much as USD 12.3 billion
The launch of XAUm on the Matrixdock RWA platform follows the profitable debut of the short-term T-bill token. STBT affords accredited traders entry to tokenized US Treasury payments (T-Payments). The token is pegged to the US greenback at a ratio of 1:1.
In line with RWA.xyz, the full worth of real-world belongings has exceeded $12.3 billion. There are additionally at the moment greater than 100 asset issuers.
The tokenized commodity market, which incorporates the worth of on-chain gold, silver and oil merchandise, reached $994 million. The most important issuers are Paxos, Tether, Comtech Gold, Aurus and WisdomTree.
By comparability, tokenized treasury merchandise within the RWA market exceeded $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.
