MarketNode and Singapore-based asset supervisor Lion World Buyers have introduced the latter’s Singapore Bodily Gold Fund on-chain on Solana, providing publicity to gold bars which are totally saved and insured in Singapore.
In accordance with an emailed announcement on Thursday, the fund will permit traders to subscribe to and redeem items on-chain by way of Market Node’s distribution community whereas retaining conventional custody, full insurance coverage for allotted bars, and the choice of in-kind redemption.
Lion World’s Singapore greenback and US dollar-denominated liquidity enhancement funds are additionally out there by way of the identical platform.
In accordance with CoinGecko, the market capitalization of tokenized gold is at present over $4.1 billion. Earlier this week, shortly after Kyrgyzstan launched USDKG, a gold-backed stablecoin pegged to the US greenback, Bhutan introduced TER, Solana’s sovereign-backed token tied to the nationwide reserve.
Rising gold costs, which have corrected to $4,200 per ounce after hitting a report excessive of $4,400 per ounce in October, and clearer guidelines such because the US GENIUS Act have boosted the tokenized gold market, dominated by Tether’s XAUT and Paxos’ PAXG.
