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World Gold Council Develops Blockchain “Trust Layer” for Gold — Is a $100 Billion Tokenized Market on the Horizon?
The World Gold Council has introduced a significant development. They are initiating a new framework aimed at standardizing digital gold. Analysts believe this will finally integrate the $5 billion tokenized gold sector into the mainstream.
Currently, entities such as Tether Gold and PAX Gold are at the forefront. However, this new “Gold as a Service” initiative represents a substantial transition towards regulated technology. It indicates that major banks are finally being welcomed into the sector.
Tether Gold (XAUT)24h7d30d1yAll time
In collaboration with the Boston Consulting Group, the WGC is connecting physical gold vaults directly to the blockchain. The entry barriers for banks are essentially disappearing. Prepare for a surge in demand for high-performance technology as traditional assets transition to digital platforms.
Gold Price Prediction: Can Tokenized Gold Surpass the $5B Threshold?
The market for tokenized real-world assets has recently reached an impressive $27 billion, with gold tokens accounting for approximately $5 billion of that figure. However, the World Gold Council is not merely observing from the sidelines; they are establishing a “trust layer” to compete with existing crypto frontrunners.
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This initiative focuses on the fundamental aspects that large investors prioritize, including enhanced audits and secure custody solutions. WGC CEO David Tait emphasizes that gold must adapt or risk becoming obsolete. He aims to ensure that gold remains pertinent for the next millennium.
Source: TradingView
At present, Tether Gold is experiencing a modest 2% increase. There is also growing enthusiasm regarding new methods to generate yield on digital gold holdings. If this new structure simplifies participation for banks, the market could potentially expand to $100 billion by the following year.
It is a critical competition to determine whether “traditional gold” can effectively navigate the new digital landscape.
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