- Crypto companies supplier Matrixport’s RWA platform has introduced the launch of XAUm.
- That is an on-chain gold token that can 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. Buying and selling help is accessible for the most important stablecoins out there right now – USDT and USDC.
Traders is not going to incur any administration price. Nonetheless, the corporate will cost a 0.25% flat charge for each minting and redemption orders. In the meantime, Matrixdock will custody the gold at respected vaults.
In accordance with the platform, buyers could have an choice of redeeming XAUm as stablecoins or bodily property. Nonetheless, customers should full KYC to redeem the property, with bodily gold redemption out there to clients by way of Matrixport’s Hong Kong and Singapore companies.
RWA market as much as $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 full on-chain worth of real-world property has hit over $12.3 billion. There are also presently 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. Largest issuers are Paxos, Tether, Comtech Gold, Aurus and WisdomTree.
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 presently the three largest by market worth.
