Matrixports RWA platform is introducing new gold-covered token xaum

• The RWA platform of the cryptododia provider Matrixport has announced the introduction of Xaum.
• This is an on-chain-gold token that supports Ethereum and BNB Chain.
• Xaum was introduced on September 16, 2024.

Matrixdock extends its RWA market with Xaum, an on-chain-gold token that is fully covered by physical gold bars from the London Bullion Market Association. The physical gold bars of the LBMA, which cover the on-chain gold token, have a purity of 99.99 %, Matrixdock put in a Announcement .

Xaum will be available as an ERC 20 token on Ethereum and as an Bep-20 token on the BNB chain. Its edition is linked 1: 1 to a tulile LBMA gold. Commercial support is available for the currently largest stable coins on the market - USDT and USDC.

There are no administrative fees for investors. However, the company calculates a flat rate of 0.25 % for stem and withdrawal orders. Matrixdock will keep the gold in renowned safes.

According to the platform, investors have the option of redeeming Xaum as stable coins or physical assets. However, users have to complete KYC to redeem the assets, with the redemption of physical gold available to customers via the services of Matrixport in Hong Kong and Singapore.

RWA market grows to $ 12.3 billion

The Start of Xaum on the Matrixdock RWA platform takes place after the successful debut of the Short-Term Treasury Bill token. STBT offers accredited investors access to tokenized US treasure changes (T-bills). The token is $ 1: 1 on the US dollar.

of rwa.xyz data has reached the total value of real assets in the chain over $ 12.3 billion. There are currently more than 100 asset releases.

The market for tokenized raw materials, which comprises the value of on-chain gold, silver and oil products, has reached $ 994 million. The largest issuers are Paxos, Tether, ComTech Gold, Aurus and Wisdomtree.

In comparison, tokenized government bond products on the RWA market exceeded $ 2.4 billion. Buidl von Blackrock, Fobxx by Franklin Templeton and Usdy from Ondo Finance are currently the three largest according to the market value.