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- Crypto providers supplier Matrixport’s RWA platform has introduced the launch of XAUm.
- That is an on-chain gold token that can assist Ethereum and BNB Chain.
- XAUm launched on September 16, 2024.
Matrixdock is increasing its RWA market with XAUm, an on-chain gold token backed absolutely 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 might be obtainable 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 assist is out there for the biggest stablecoins available in the market in the present day – USDT and USDC.
Buyers won’t incur any administration payment. Nevertheless, 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.
Based on the platform, traders may have an choice of redeeming XAUm as stablecoins or bodily property. Nevertheless, customers must full KYC to redeem the property, with bodily gold redemption obtainable to clients by way of Matrixport’s Hong Kong and Singapore providers.
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 provides accredited traders 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 property 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. Largest 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.