Ethereum on-chain RWA surpasses $15 billion, with tokenized gold contributing over $4 billion

ETH-2,19%
XAUT-3,7%
PAXG-3,72%

According to ChainCatcher reports and ARKM Research data, the on-chain real-world asset (RWA) market on Ethereum has surpassed $15 billion, accounting for 58% of the global RWA market. The growth is mainly driven by tokenized gold.

Currently, the tokenized gold market exceeds $4 billion, with two main products: Tether Gold (XAUT) and Paxos Gold (PAXG). XAUT is backed by physical gold stored in Swiss vaults and is the leading tokenized gold by market value; PAXG is regulated by the New York Department of Financial Services (NYDFS), with each token representing one troy ounce of physical gold.

ARKM Research notes that tokenized gold combines the security of physical gold with the liquidity of digital assets, gradually moving away from niche status and directly competing with mainstream crypto derivatives. Additionally, on-chain perpetual contracts trading platforms for gold and silver have recently recorded record-breaking trading volumes.

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