Original source: Matrixdock Community

In 2025, the RWA market is entering a critical turning point.

In the early stages, industry discussions revolved more around conceptual issues such as "Can assets be put on-chain?" and "Is tokenization feasible?" However, as the market gradually cools down, the focus is clearly shifting—whether tokenized assets have real delivery capabilities, whether they can maintain long-term transparency, and whether they meet the conditions for adoption by institutions and even the public financial system are becoming new dividing lines.

Against this backdrop, Matrixport's RWA platform, Matrixdock, is advancing a series of practices in 2025 that gradually demonstrate a feasible path for gold tokenization to move from a technical concept to actual operation. Unlike attention drawn by a single event, Matrixdock's industry influence is built on a series of publicly disclosed, verifiable by third parties, and continuously advancing key developments, which together form the foundation for its market attention in 2025.

Physical Gold Redemption Publicly Disclosed for the First Time: A Key Step in Building Trust

In discussions about gold tokenization, the ability for physical redemption has always been regarded as the most core and unavoidable issue. If on-chain tokens cannot be delivered in the real world, their financial and asset attributes will be difficult to establish.

In April 2025, Matrixdock publicly disclosed the first case of physical gold redemption for XAUm, showcasing the complete closed-loop path from on-chain token destruction to offline gold bar delivery.

According to official disclosure, this redemption involved a 1kg physical gold bar that meets LBMA standards, corresponding to the destruction of 32.148 XAUm tokens on-chain (1 XAUm = 1 troy ounce of gold). The redemption was completed on April 22, 2025, at Le Freeport in Singapore, and the gold bar was delivered through Malca-Amit Vaults, with the customer picking it up.

The significance of this case lies not in the scale of the redemption itself, but in its first public and verifiable response to the core issue that gold tokenization has long faced: whether on-chain assets truly possess delivery capabilities in the real world. Subsequently, this case has been mentioned in multiple industry discussions surrounding gold tokenization, gradually becoming an important practical example for the market to observe the physical delivery mechanism.

Continuous Advancement of Transparency Mechanisms: From Case Verification to Long-term Traceability

Compared to a single event, a continuous transparency mechanism can better test the real operational status of RWA projects. In 2025, Matrixdock further strengthened the transparency foundation of gold tokens through physical redemption verification and continuous disclosure of audit and reserve information, extending external focus from a single event to a long-term traceable transparency performance.

In the audit announcement released in July 2025, Matrixdock disclosed that its semi-annual audit mechanism began in January 2025: the first audit verified 70 physical gold bars, while the current audit has increased the number of verified bars to 421. This continuous disclosure process allows the reserve status of XAUm to be continuously tracked and compared by external parties, no longer relying on single-point information disclosure.

Public information shows that gold reserves are distributed among professional vault systems such as Brink's and Malca-Amit Singapore, and are verified by third-party auditing agencies regarding the list of gold bars, weights, and other information, allowing the correspondence between reserve scale and XAUm token supply to be continuously tracked and compared by external parties.

With the release of continuous audits, the transparency of XAUm's reserves has gradually shifted from one-time disclosure to a process that can be continuously verified over time. In an on-chain environment, this method of information disclosure, which approaches the logic of traditional precious metal markets, provides a foundation for gold tokenization that is closer to the operational logic of real assets.

On-chain Data and Research in Parallel: Real Operational Status Gradually Revealed

At the data level, the on-chain scale and usage of XAUm have gradually formed a publicly observable indicator system.

Third-party data platforms (such as RWA.xyz) provide continuous statistics on XAUm based on on-chain data, including on-chain asset scale, corresponding value, and the number of holders, allowing the on-chain operational status of gold tokens to be independently tracked and compared by external parties, independent of project announcements.

Meanwhile, in a research article published on the Tokenized Asset Coalition (TAC) platform, Matrixdock pointed out from an industry research perspective that the key to tokenized gold is not in the scale display at a single point in time, but in whether a closed-loop structure can be formed between on-chain token supply, physical reserves, and third-party audit information that is comparable and verifiable. In this framework, XAUm is used as a practical case to illustrate how gold tokens gradually establish transparency and verifiability in actual operations.

At the project level, Matrixdock has also continuously disclosed the phased progress of XAUm in terms of issuance scale, on-chain transactions, and liquidity through multiple research and market articles published in 2025, forming cross-references with third-party audit results and public data, providing a more intuitive basis for the market to judge the real operational status of gold tokens.

Multi-chain Deployment and Ecological Expansion: Moving Towards Broader On-chain Asset Forms

In 2025, Matrixdock's practices further extended to multi-chain and ecological levels.

In August 2025, XAUm officially launched on the Sui network, marking the first native issuance of XAUm on a non-Ethereum Virtual Machine (EVM) blockchain. Official disclosures show that as a demonstration of confidence in the path of gold tokenization, the Sui Foundation stated it would allocate part of its treasury to XAUm, participating in asset allocation for the Web3 era with gold as a traditional asset.

With the deployment of XAUm in the Sui ecosystem, the application scenarios for gold tokens began to expand from primarily trading to broader on-chain asset allocation and usage. Throughout the advancement in 2025, Matrixdock has gradually expanded its gold tokenization practices from a single-chain environment to a multi-chain architecture.

By natively issuing on different blockchain ecosystems, XAUm demonstrates adaptability to different technical architectures while maintaining consistency in gold reserve mapping, audit disclosure, and redemption mechanisms, allowing tokenized gold to gradually develop into a more universal on-chain asset form.

Entering the Professional System of the Precious Metals Industry: Featured in SBMA's "Crucible"

As practices advance, discussions related to gold tokenization have also begun to enter the professional system of the traditional precious metals industry.

In July 2025, Matrixdock joined the Singapore Bullion Market Association (SBMA). In the fourth quarter of the same year, Matrixdock was invited to contribute to the SBMA journal "Crucible" and published an article in December. The content discussed the transparency mechanisms of tokenized gold, asset mapping logic, and reserve verification paths, exploring the role of blockchain technology in enhancing information verifiability from the existing custody and audit framework of the precious metals industry.

This publication provides a concrete case for the professional research and publishing system of tokenized gold in the precious metals industry and builds a new connection point for communication between the traditional precious metals market and emerging digital asset technologies.

Sovereign-level Application Scenarios Land: Bhutan's TER Project Draws Market Attention Upgrade

If enterprise-level applications primarily validate technical feasibility, then sovereign-level and city-level projects test institutional compatibility.

In December 2025, the Greeple Mindfulness City Management Authority (GMCA) announced the appointment of Matrixdock as the core tokenization technology partner for the upcoming gold-backed sovereign digital token TER, responsible for the development of the underlying tokenization infrastructure. This collaboration was announced through official channels and PR Newswire and was reprinted by international financial and information platforms such as Investing.com and finews.asia. According to public reports from Investing.com (Reuters) and others, the TER project plans to issue on the Solana network.

This project marks the inclusion of Matrixdock's gold tokenization technology in the overall construction of sovereign-level and city-level digital financial infrastructure. For Matrixdock, this project allows its gold tokenization technology to begin serving the construction of sovereign-level and city-level digital financial infrastructure, extending its technical practices from enterprise-level applications to the infrastructure level of public financial systems.

Conclusion

Overall, the industry image presented by Matrixdock in 2025 is not derived from the amplification of a single event, but is built on a series of publicly verifiable, sustainably advancing, and institutionally consistent practical foundations.

From physical gold redemption and continuous independent audits to multi-chain deployment and ecological asset allocation, and participation in the landing of sovereign-level projects, these developments together form a clear path from mechanism verification to system construction.

In this process, the RWA industry itself is also undergoing a transformation—from a stage primarily focused on concept validation to a stage emphasizing real operational capabilities, transparency standards, and the potential for public adoption. Gold tokenization is becoming one of the asset types that undergoes the earliest reality testing in this transformation.

This article is from a submission and does not represent the views of BlockBeats and Matrixdock.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。