Circle has introduced its first tokenized gold asset on the Arc blockchain. The XAUm token, issued by Matrixdock, represents one ounce of gold stored in vaults located in Hong Kong and Singapore. These physical reserves are managed by Brink’s and Malca-Amit, with the company publishing regular reserve audits.
The platform allows users to redeem tokens for physical gold, requiring 32.148 XAUm for a one-kilogram bar. While the company mentions same-day cash settlements for eligible sales, official documentation specifies a three-day waiting period. The cash-out process operates according to New York business hours.
As of May 1, the total value of XAUm tokens reached $71 million, with a market price near $4,318 per token. In comparison, Tether Gold is valued at $2,52 billion and PAX Gold at $2,32 billion. XAUm is currently available on eight different blockchain networks.
The Arc network, launched by Circle on September 16 with support from Visa, BlackRock, and Standard Chartered, recorded $410,8 million in trading volume on its opening day. Currently, XAUm tokens can be traded on the platform, though lending services are not yet supported.
