MarketNode and Singapore-based asset supervisor Lion International Traders have introduced the latter’s Singapore Bodily Gold Fund on-chain on Solana, providing publicity to gold bars which can be totally saved and insured in Singapore.
In response to an emailed announcement on Thursday, the fund will enable buyers to subscribe to and redeem items on-chain by Market Node’s distribution community whereas retaining conventional custody, full insurance coverage for allotted bars, and the choice of in-kind redemption.
Lion International’s Singapore greenback and US dollar-denominated liquidity enhancement funds are additionally accessible by the identical platform.
In response to CoinGecko, the market capitalization of tokenized gold is at the moment over $4.1 billion. Earlier this week, shortly after Kyrgyzstan launched USDKG, a gold-backed stablecoin pegged to the US greenback, Bhutan introduced TER, Solana’s sovereign-backed token tied to the nationwide reserve.
Rising gold costs, which have corrected to $4,200 per ounce after hitting a report excessive of $4,400 per ounce in October, and clearer guidelines such because the US GENIUS Act have boosted the tokenized gold market, dominated by Tether’s XAUT and Paxos’ PAXG.
