Marketnode, Lion Global Bring Singapore-Vaulted Gold Fund Onchain on Solana
Marketnode and Singapore-based asset supervisor Lion International Buyers are bringing the latter’s Singapore Bodily Gold Fund onchain on Solana, providing publicity to gold bars totally vaulted and insured in Singapore.
The fund lets traders subscribe to and redeem models onchain by Marketnode’s distribution community whereas retaining conventional custody, full insurance coverage on allotted bars and an choice for in-kind redemption, in accordance with an emailed announcement on Thursday.
LionGlobal’s Enhanced Liquidity funds in SGD and USD may also be obtainable by the identical platform.
Tokenized gold’s market capitlaization has now topped the $4.1 billion mark in accordance with CoinGecko. Earlier this week, Bhutan unveiled TER, a sovereign-backed gold token on Solana tied to state reserves, following quickly after Kyrgyzstan launched USDKG, a gold-backed stablecoin pegged to the U.S. greenback.
Rising gold costs, which hit a file $4,400 an oz in October earlier than correcting to $4,200, and clearer guidelines such because the U.S. GENIUS Act have offered a tailwind to the tokenized gold market, which is dominated Tether’s XAUT and Paxos’ PAXG.
