CandleFocus Matrixport’s RWA platform launches new gold-backed token XAUm
2024-09-16
Author: Content Editor
Crypto platform Matrixdock is expanding its real-world asset (RWA) market with the launch of XAUm, an on-chain gold token backed by physical gold bars from the London Bullion Market Association. XAUm will be available as an ERC-20 token on Ethereum and as a BEP-20 token on the BNB Chain, with a 1:1 peg to a troy oz. of LBMA gold. The token will have trading support for stablecoins USDT and USDC. Matrixdock will charge a 0.25% flat rate for minting and redemption orders, but investors will not incur any management fee. XAUm offers the option of redeeming assets as stablecoins or physical gold, with physical gold redemption available through Matrixport's services in Hong Kong and Singapore. The launch of XAUm follows the successful debut of the Short-term Treasury Bill Token on the RWA platform. The total on-chain value of real-world assets in the market has surpassed $12.3 billion, with the tokenized commodities market, including gold, silver, and oil products, reaching $994 million.
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