
Circle's Arc Blockchain is Launching Its First Tokenized Gold Asset
Matrixdock has integrated its XAUm tokenized gold asset onto Circle's Arc blockchain, marking the network's first gold-backed offering. Each XAUm token represents one ounce of physical gold stored in vaults in Hong Kong and Singapore, managed by Brink's or Malca-Amit. While Matrixdock promotes same-day cash settlements for eligible sellers, its official documentation maintains a three-day settlement window, highlighting the persistent friction in physical gold redemption. The asset aims to lower the barrier for physical delivery, requiring only 32.148 tokens for a one-kilogram bar compared to the significantly higher requirements of competitors like Paxos. Despite this accessibility, XAUm faces liquidity challenges with a $71 million market cap spread across eight different blockchains. Circle's Arc network, which launched in September with support from institutions like BlackRock and Visa, has struggled with initial use cases, as joke tokens accounted for 82% of its $410.8 million opening day volume. This development underscores the ongoing struggle for institutional-grade blockchains to prioritize high-value RWA utility over speculative activity.



