Matrixdock is broadening its RWA market by introducing XAUm, an on-chain gold token fully backed by physical gold bars from the London Bullion Market Association. The gold bars have a purity of 99.99%, as stated by Matrixdock. XAUm will exist as an ERC-20 token on Ethereum and a BEP-20 token on the BNB Chain, with a 1:1 peg to a troy oz. of LBMA gold. Trading will support major stablecoins like USDT and USDC, with no management fee for investors. However, a 0.25% flat rate will be charged for minting and redemption orders. Matrixdock will safeguard the gold in reputable vaults, offering investors the choice to redeem XAUm as stablecoins or physical assets after completing KYC. The RWA market, valued at $12.3 billion, saw the launch of XAUm following the successful introduction of the Short-term Treasury Bill Token, which provides access to tokenized US Treasury bills for accredited investors. Read more AI-generated news on: https://app.chaingpt.org/news

#ETH