Are there any digital assets that are backed by physical gold reserves?

3 answers

• Hafiz Hamza YaqoobJul 20, 2020 · 5 years ago
  Sure! One digital asset that is backed by physical gold reserves is Tether Gold (XAUT). It is a stablecoin that represents ownership of one troy ounce of gold on a specific gold bar. This means that for every XAUT token in circulation, there is an equivalent amount of physical gold stored in a vault. It offers a way to invest in gold without the need for physical ownership or storage. Just keep in mind that the value of XAUT may fluctuate with the price of gold.
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• Ismail SulaimanMar 07, 2022 · 3 years ago
  Absolutely! Another option you can consider is PAX Gold (PAXG). PAXG is an ERC-20 token that is backed by one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar. Each token represents direct ownership of physical gold held in custody by Paxos Trust Company. It provides the benefits of owning gold while still being easily tradable on the Ethereum blockchain.
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• Brilyan Ilham SadewoFeb 24, 2024 · a year ago
  Yes, there are digital assets backed by physical gold reserves. One such example is DigixDAO (DGD). DigixDAO is a decentralized autonomous organization that tokenizes physical gold on the Ethereum blockchain. Each token, called DGX, represents 1 gram of gold and is fully backed by physical gold stored in vaults in Singapore. The transparency and auditability of the blockchain ensure the authenticity and ownership of the gold backing the tokens.
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