
Tokenized commodities reach US$5.55 billion, functions expand
The market capitalization of tokenized commodities surged to US$5.55 billion by March 2026, marking a significant increase from US$1.43 billion at the start of 2025. Gold-backed tokens from Paxos and Tether currently dominate this sector, representing nearly 90% of the total market growth. Beyond simple price tracking, developers are now integrating complex financial functions such as lending, rental income, and inventory financing into these digital assets. Paxos Labs has introduced PAXGy, which generates yield through gold-denominated loans to institutional borrowers, while Theo has launched thSLVR to provide rental income from silver leasing. Meanwhile, Energy Substantiation (EnSub) is testing the tokenization of oil with its WTIC token, which represents one barrel of WTI crude oil on the Ethereum blockchain. These innovations aim to democratize access to commodity lending markets that were previously restricted to large institutional players. As the sector matures, Indonesia's Financial Services Authority (OJK) is actively drafting regulatory frameworks to govern the issuance, custody, and protection of tokenized real assets.





