#比特币对比代币化黄金 Moving gold onto the blockchain has become quite mature these days.

Let’s start with the PAX Gold project, which directly turns London Good Delivery gold bars into ERC-20 tokens. Their rules are straightforward: one PAXG equals one troy ounce of physical gold, no gimmicks. More importantly, the New York Department of Financial Services oversees it, and all the gold is stored in Brink’s vaults in London, with regular audits. The regulatory side is pretty solid.

Tether Gold takes a slightly different approach. The XAUt token isn’t just on Ethereum—it’s deployed on multiple chains. It’s also pegged 1:1 to London Good Delivery gold bars, but they store the physical gold in Switzerland—a place known for its vault secrecy. From a technical perspective, multi-chain deployment does enhance liquidity.

Interestingly, this trend has reached Asia. Singapore launched Asia Gold Coin, clearly aiming to get a share of this market segment. Countries are all trying to tokenize traditional safe-haven assets, which suggests this path might really work.

$ETH , as the main network hosting these gold tokens, is in some ways also serving as the underlying infrastructure for value anchoring. Physical gold + blockchain transparency + regulatory compliance—this combination does solve a lot of pain points in traditional gold trading. But when it comes to liquidity and use cases, it still depends on how the market accepts it.