TechFlow reports that on September 24, according to RWA.xyz disclosure, the market cap of tokenized precious metals has surpassed the $1 billion mark, showing rapid growth. Tether's XAUT has become one of the key drivers behind this expansion, with its market cap rising from $384 million to $491 million. Nevertheless, PAXG from Paxos still maintains its position as the largest tokenized precious metal product in the market.
Global financial giants such as HSBC are not only offering tokenized gold products to retail clients but also actively supporting related technological innovations. This includes developing post-quantum cryptography for tokenized gold to enhance future security. Ongoing market innovation continues, with gold NFTs and stablecoins backed by tokenized gold leading a new wave of experimentation.
