Tokenized Gold Surpasses $1B in Market Cap as Physical Asset Nears All-Time Price High

📆 5/4/2023 8:12 AM
📰 CoinDesk

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The combined market capitalization of Paxos’ PAXG and Tether’s XAUT, the two largest gold-pegged stablecoins, surpassed $1 billion as the price of gold soared past $2,000 on Tuesday. sndr_krisztian reports

that pegs its price to gold, while the tokens on the blockchain represent ownership of physical gold managed by the issuer. It offers investors a way to get exposure to the precious metal without the management fees of an exchange-traded fund or the burden of storing gold bullions.

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