Circle's Arc blockchain launches first tokenized gold asset

Matrixdock has introduced its XAUm token on Circle's Arc blockchain, representing physical gold stored in Hong Kong and Singapore vaults. While the platform promotes same-day cash settlements for eligible sellers, official documentation indicates a three-day processing period. Each token is backed by one ounce of gold, with reserves audited and held by security firms Brink's and Malca-Amit. Compared to competitors like Paxos and Tether Gold, XAUm offers lower requirements for physical redemption and supports a broader range of blockchain networks.