TL;DR
- Matrixdock officially launches its new gold token, XAUm, on September 16, 2024.
- XAUm is backed by physical gold with a minimum purity of 99.99% and meets LBMA standards.
- Users can purchase XAUm using USDT or USDC and redeem it for physical gold in Hong Kong and Singapore.
Matrixdock, a digital asset and brand platform owned by Matrixport, has announced the official launch of its new gold token, XAUm, starting September 16, 2024.
This development marks a significant milestone in the tokenization of real-world assets (RWA), following the success of its previous STBT token.
XAUm represents a step forward in the integration of precious metals with digital technologies, offering users an innovative and efficient way to interact with gold.
The XAUm token is backed by physical gold bullion that meets the strict standards of the London Bullion Market Association (LBMA), ensuring a minimum purity of 99.99%.
Each XAUm is equivalent to one troy ounce of fine gold according to LBMA standards.
Matrixdock has established strategic partnerships with renowned LBMA brokers and refiners, such as Heraeus and Point Gold, to secure the supply of high-quality gold.
Bullion is stored in tax-free zones by LBMA-certified custodians, such as Brink’s, thus ensuring the security and quality of the underlying assets.
One of the main attractions of XAUm is its flexibility and convenience.
Users can purchase XAUm tokens using USDT or USDC, and enjoy seamless on-chain transfers and redemptions.
The platform allows for physical redemption of gold in Hong Kong and Singapore, adding an additional layer of utility for those who prefer to own gold in tangible form.
Additionally, Matrixdock has implemented a low fee structure, with a fee of only 0.25% for token minting and redemption, eliminating traditional gold storage and management costs.
Innovations and Benefits of XAUm at Matrixport
XAUm is designed to meet various needs in the world of digital assets and decentralized applications (Dapps).
Compatible with ERC-20/BEP-20 and ERC-721/BEP-721 standards, the token offers interoperability across multiple chains, including Ethereum and BNB.
This flexibility allows users to manage and utilize XAUm in different blockchain environments efficiently.
The introduction of XAUm is a major step forward for Matrixdock in its mission to transform real-world asset tokenization.
The integration of physical gold with digital asset capabilities not only expands Matrixdock’s reach into the precious metals market, but also provides investors with a modern and accessible solution to participate in the gold market.
With a competitive fee structure and secure storage network, XAUm positions itself as an attractive option for those interested in digital gold.
The launch of XAUm represents a significant evolution in the way precious assets can be managed and traded in the digital realm.
The combination of physical gold with the flexibility of digital tokens offers a unique value proposition, marking a new chapter in the tokenization of precious metals and setting a standard for future developments in this sector.
