Matrixdock has launched its tokenized-gold product, XAUm, on Arc, the layer-1 blockchain built by Circle, giving the network its first gold-backed asset and pairing it with same-day USDC settlement for eligible redemptions.
Each XAUm token represents one troy ounce of 99.99% pure physical gold, according to Matrixdock. The issuer says the underlying metal comes from London Bullion Market Association Good Delivery refineries and is held on an allocated basis in Hong Kong and Singapore vaults operated by Brink’s and Malca-Amit.
The launch connects a traditionally slow-moving bullion market with on-chain liquidity and dollar settlement. Eligible holders that meet Matrixdock’s redemption terms and submit the required transaction documentation can receive USDC proceeds on the same day, rather than waiting through the settlement process often associated with London gold trading.
XAUm can also be swapped against USDC through Uniswap on Arc, creating an on-chain market for traders seeking exposure to allocated gold without leaving the network. The arrangement gives the token potential roles beyond simple price exposure, including collateral and settlement in applications that can recognize reserve-backed assets.
Same-day USDC proceeds target bullion settlement delays
The practical feature of the Arc rollout is the redemption path rather than the creation of another gold token. Traditional London gold transactions commonly settle on a T+2 basis, meaning completion generally takes two business days after a trade.
For unallocated gold, settlement usually occurs through bookkeeping movements among clearing accounts. Moving from an unallocated claim to physical metal, or arranging delivery outside London, can introduce further handling, transport, verification and custody steps.
Matrixdock’s structure keeps the physical-gold custody and sale process in place while offering eligible holders a route to USDC settlement on the day their request is processed. That could make tokenized bullion more usable in crypto-native markets, where stablecoins are widely used for trading, collateral transfers and settlement.
The model does not turn a physical gold bar into an instant delivery asset. Instead, it creates a faster payment outcome for qualifying redemptions, with USDC serving as the settlement currency after the relevant gold transaction is handled through Matrixdock’s framework.
That distinction places XAUm closer to a bridge between vault-held bullion and on-chain dollar liquidity. A holder needing to move from gold exposure into a dollar-denominated token could use the redemption process, while another holder may choose to exchange XAUm on Uniswap without redeeming from the issuer.
Allocated bars and audit process underpin the token
Matrixdock says XAUm is backed one-for-one by physical gold held in allocated form. Allocated custody means specific bars are assigned to the asset pool rather than merely representing a general claim against a bullion provider.
The issuer’s reserve process includes token-to-bar allocation records, monthly reserve-asset reports and on-chain Proof of Reserves data. Bureau Veritas conducts independent physical audits of the gold, Matrixdock said.
Reserve transparency has become a central test for tokenized commodities because the token’s on-chain transferability does not eliminate the off-chain risks around custody, ownership records and redemption. The blockchain can show token movements, but custody providers and auditors remain responsible for demonstrating that matching metal exists and is properly held.
Matrixdock’s use of vaults in Hong Kong and Singapore also puts the product within Asia’s expanding bullion-storage infrastructure. Hong Kong has announced a plan to increase its gold-storage capacity to more than 2,000 tonnes over the next three years, reflecting the territory’s effort to reinforce its position in regional precious-metals trading and custody.
Gold’s reserve role meets Arc’s stablecoin rails
Gold remains a major reserve asset for official institutions. European Central Bank data showed gold represented 27% of global official reserves at the end of 2025, underlining the metal’s continued role alongside sovereign currencies and government debt.
Tokenized gold products seek to package that familiar reserve asset in a form that can move through blockchain-based markets. Their appeal depends on several linked factors: confidence in the metal’s custody, clarity around redemption, liquidity in trading pools and the ability to settle transactions efficiently.
Arc’s connection to USDC gives XAUm a direct link to a stablecoin designed for dollar-based settlement. The XAUm/USDC pool on Uniswap allows users to exchange between the two assets on-chain, while smart contracts could potentially use the token in collateral arrangements where participants accept its reserve and liquidity structure.
Liquidity will determine how useful that capability becomes in practice. A token may be fully backed yet remain difficult to trade at a fair price if on-chain pools are shallow. Conversely, stronger liquidity can make a gold-backed token more practical for applications that need a transferable collateral asset without requiring users to sell into fiat banking rails.
Matrixdock expands its tokenized-metals offering
XAUm is part of Matrixdock’s wider lineup of tokenized precious-metals products. The company has also issued Matrixdock Silver, or XAGm, which is designed to represent physical silver through a similar reserve-backed approach.
The Arc deployment extends Matrixdock’s distribution beyond a single chain and brings a physical commodity to a network centered on stablecoin settlement. It also gives Arc a new category of collateral-like asset: one tied to audited, allocated gold rather than a crypto-native token or cash-equivalent stablecoin.
For holders, the product combines several layers that must work together: physical vault custody, reserve reporting, audit procedures, smart-contract transfers, decentralized exchange liquidity and a USDC redemption route. Matrixdock’s launch places those components on Arc in a single structure, aiming to make allocated gold easier to exchange and settle within on-chain financial markets.
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