As of October 17, 2025, spot gold has surged past $4,325 per ounce, setting a new all-time high and pushing the metal’s total market capitalization above $30 trillion. This milestone means gold has now overtaken Apple ($3.67T) and Microsoft ($3.80T), narrowing the gap with Nvidia ($4.43T) to become one of the world’s most valuable assets.
Source: Gold Price
According to CoinGecko, the rally has also driven the tokenized gold market to a record $3.38 billion market cap and $1.74 billion in daily trading volume, as investors seek stability amid the U.S. government shutdown, inflation pressure, and expectations of Federal Reserve rate cuts. Demand for blockchain-based representations of gold is surging, combining traditional value preservation with digital-age liquidity.
In this article, we’ll look at the Top 10 Gold-Backed Crypto Tokens to Watch in 2025, exploring how each project bridges real-world assets and decentralized finance.
What Is a Gold-Backed Crypto Token and How Does It Work?
Source: BingX XAUT Price
Gold-backed crypto tokens are digital assets that represent direct ownership of physical gold stored in secure, audited vaults. Each token typically corresponds to one troy ounce of gold, allowing holders to trade or redeem their tokens for the underlying metal at any time.
The process generally works as follows:
1. Gold deposit: The issuer places LBMA-certified gold bars in a regulated vault such as Brink’s or Malca-Amit.
2. Token creation: Verified gold is tokenized through smart contracts on a blockchain like Ethereum.
3. On-chain proof: The total supply and reserves are published for public audit to confirm each token’s backing.
Most leading projects such as PAX Gold (PAXG) and Tether Gold (XAUT) follow this model, while smaller issuers may rely on regional vaults or use fractional certificates and ETF-linked structures that provide indirect exposure instead of full physical redemption.
As a form of commodity-backed stablecoin, gold tokens combine the price stability of gold with the accessibility of crypto. This structure merges gold’s role as a hedge against inflation with blockchain’s advantages of divisibility, low transfer costs, and transparent ownership. For investors, gold-backed tokens serve as a bridge between traditional finance and decentralized markets, offering the stability of physical gold and the flexibility of crypto assets.
Gold Price Surges to New Record in October 2025: Why?
Gold has entered a record-breaking rally this month, rising more than 17% in 30 days and surpassing $4,325 per ounce as of October 17, 2025. The surge comes amid a mix of economic, monetary, and geopolitical pressures that have fueled strong demand for safe-haven assets.
At the same time, Bitcoin has traded near $122,000 after a new all-time high earlier this month. Both assets are seen as stores of value, but gold’s stronger performance shows investors still prefer tangible and tokenized gold during market uncertainty.
Key drivers behind the October rally include:
1. U.S. government shutdown: Ongoing since October 1, the funding impasse has raised fears of fiscal instability and prompted investors to shift from equities into gold.
2. Federal Reserve rate-cut expectations: With inflation still persistent, markets now anticipate an easing cycle that lowers yields and strengthens demand for non-yielding assets like gold.
3. Weakening U.S. dollar: The dollar index has dropped to multi-month lows, amplifying gold’s appeal for international investors.
4. Central bank accumulation: Countries such as China and Russia have increased gold purchases, adding over 100 tons in recent quarters as part of reserve diversification.
5. Geopolitical tensions: Ongoing regional conflicts and trade uncertainties have added to safe-haven demand, especially among institutional buyers.
Analysts from ANZ forecast gold could reach $4,400 by the end of 2025 and potentially test $4,600 by mid-2026 before stabilizing as global monetary policy shifts. Although short-term indicators suggest the metal is technically overbought, investor sentiment remains firmly bullish.
Top 10 Gold-Backed Crypto Tokens to Watch in 2025
The total market capitalization of gold-backed cryptocurrencies has surpassed $3 billion in October 2025, coinciding with spot gold prices reaching a record high of $4,325 per ounce. As investors seek stability and verifiable on-chain assets, these projects are defining the next phase of real-world-asset tokenization.
| Token | Market Cap (Oct 2025) | Info |
| Tether Gold (XAUT) | ≈ $1.63 B | The largest and most liquid tokenized gold asset |
| PAX Gold (PAXG) | ≈ $1.37 B | Regulated gold ownership for the digital age |
| Kinesis Gold (KAU) | ≈ $337 M | Yield-bearing gold for active holders |
| Matrixdock Gold (XAUM) | ≈ $75 M | Institutional-grade verified reserves |
| VeraOne (VRO) | ≈ $52 M | Europe’s regulated bridge between gold and crypto |
| Comtech Gold (CGO) | ≈ $42 M | Sharia-compliant gold from Dubai |
| Tether Gold Pool (XAUT0) | ≈ $36 M | Liquidity extension for Tether’s ecosystem |
| VNX Gold (VNXAU) | ≈ $27 M | MiCA-aligned tokenization for European investors |
| Gold DAO (GOLDAO) | ≈ $16 M | Community-run tokenized reserves |
| Kinka (XNK) | ≈ $11 M | Accessible gold investing in small units |
Below are the ten largest gold-backed tokens by market capitalization as of mid-October 2025.
1. Tether Gold (XAUT)
Market Cap ≈ $1.63 B
Tether Gold (XAUT) is the largest and most liquid tokenized gold asset in the world, offering investors digital ownership of real gold backed by Tether and stored in secure Swiss vaults. Each XAUT token represents one troy ounce of LBMA-certified gold, combining the stability of physical bullion with the convenience and liquidity of cryptocurrency markets. Its strong reputation, transparency, and availability across major exchanges make it the benchmark choice for both institutional and retail investors seeking exposure to tokenized gold.
2. PAX Gold (PAXG)
Market Cap ≈ $1.37 B
PAX Gold (PAXG) delivers regulated gold ownership for the digital age, providing investors with direct title to London Good Delivery bars held by Brink’s. Issued by Paxos Trust Company under supervision of the New York Department of Financial Services, each token is fully redeemable for physical gold and supported by publicly auditable bar serial numbers. PAXG stands out for its strong compliance framework, institutional custody standards, and seamless redemption process, making it one of the most trusted and legally robust ways to hold tokenized gold today.
3. Kinesis Gold (KAU)
Market Cap ≈ $337 M
Kinesis Gold (KAU) turns gold into a yield-bearing currency, rewarding holders with micro-yields from transaction fees within the Kinesis Monetary System. Each token is backed by allocated gold in audited vaults, merging traditional stability with payment utility. KAU’s income-enabled model attracts investors seeking both security and productivity.
4. Matrixdock Gold (XAUM)
Market Cap ≈ $75 M
Matrixdock Gold (XAUM) offers institutional-grade tokenization through verified proof-of-reserves and transparent custody. Managed by Matrixdock in Singapore, XAUM targets professional investors who want compliant bullion exposure. Its emphasis on regulatory alignment and verifiable audits makes it a reliable bridge between finance and tokenized RWAs.
5. VeraOne (VRO)
Market Cap ≈ $52 M
VeraOne (VRO) provides Europe’s regulated gateway to tokenized gold, backed by fully audited bullion in French vaults. Each token equals one gram of gold, creating a low-barrier entry for small investors. With euro-linked structure and licensed custody, VeraOne serves EU users seeking regional, transparent gold exposure.
6. Comtech Gold (CGO)
Market Cap ≈ $42 M
Comtech Gold (CGO) brings Sharia-compliant gold to blockchain markets, tokenizing DMCC-certified bars from Dubai with full supply-chain traceability. Built on the XDC Network, CGO ensures ethical sourcing and caters to investors in the Middle East and South Asia who want transparent and compliant digital gold.
7. Tether Gold Pool (XAUT0)
Market Cap ≈ $36 M
Tether Gold Pool (XAUT0) extends Tether’s ecosystem by boosting liquidity across centralized and decentralized exchanges. Using the same Swiss-vault reserves as XAUT, it strengthens market-making depth and price discovery for institutional traders without adding custodial complexity.
8. VNX Gold (VNXAU)
Market Cap ≈ $27 M
VNX Gold (VNXAU) is a MiCA-aligned gold token issued from Liechtenstein and backed by Swiss-stored bullion. With transparent audits and EU-compliant structure, VNXAU appeals to institutional and private investors seeking regulated, tokenized commodity exposure.
9. Gold DAO (GOLDAO)
Market Cap ≈ $16 M
Gold DAO (GOLDAO) is a real-world asset DAO that tokenizes physical gold bars into on-chain gold tokens and enables decentralized governance through on-chain voting. It combines the value of gold with blockchain transparency, allowing community members to propose, vote, and control treasury decisions while exploring a new model for collective ownership and real-asset management.
10. Kinka (XNK)
Market Cap ≈ $11 M
Kinka (XNK) is a gold-backed crypto token representing one fine troy ounce of real gold, designed to make gold investing accessible through fractional, easy-to-trade digital units. It is backed by audited physical metal stored in secure vaults, features low entry thresholds, and is built with transparency to serve retail investors in tokenized-gold ownership.
Together, these ten projects represent nearly all of the tokenized gold market, showing how blockchain technology is reshaping access to one of the world’s oldest stores of value. From large-scale institutional offerings to retail-focused innovations, digital gold is becoming a key part of the on-chain economy.
Physical Gold vs. Gold ETF vs. Gold-Backed Crypto: What Are the Differences?
Gold has always been seen as a store of value, but investors today have multiple ways to gain exposure. Physical gold offers tangible ownership, gold ETFs provide convenience within traditional markets, and gold-backed crypto introduces blockchain transparency and 24/7 liquidity. Each suits different investment goals and risk profiles.
| Category | Physical Gold | Gold ETF | Gold-Backed Crypto (Digital Gold) |
| Ownership | Direct possession of bars or coins | Shares representing pooled gold holdings | On-chain tokens backed by specific vaulted gold |
| Accessibility | Requires physical storage and security | Limited to stock market trading hours | 24/7 trading on crypto exchanges |
| Transparency | Dependent on dealer or vault audit | Periodic fund disclosures | Public blockchain proof of reserves |
| Liquidity | Slower to sell or transport | High liquidity during market hours | Instant global transfer and fractional trading |
| Cost Structure | Storage and insurance costs | Management and brokerage fees | Low custodial fee (around 0.2–0.5% annually) |
| Redemption Option | Physical delivery possible | No direct redemption for gold | Redeemable in metal or fiat (for most major issuers) |
| Who It Suits | Long-term holders who value tangible assets | Traditional investors seeking regulated exposure | Investors wanting flexible, verifiable, and globally accessible exposure to gold |
In short, physical gold provides ownership you can hold, ETFs simplify access through traditional brokers, and gold-backed crypto bridges both worlds with verifiable ownership and round-the-clock liquidity.
How to Buy and Trade Gold-Backed Tokens on BingX
Whether you’re investing for long-term stability or trading short-term movements in gold prices, BingX supports leading gold-backed cryptocurrencies, Tether Gold (XAUT) and PAX Gold (PAXG), through both Spot and Futures Markets.
With BingX AI integrated directly into the trading interface, you can access real-time insights, price analysis, and gold market forecasts to make more informed trading decisions.
1. Buy or Sell Gold-Backed Tokens on the Spot Market
If your goal is to accumulate gold-backed assets or take advantage of price dips, the Spot Market is the most straightforward option.
Step 1: Go to the BingX Spot Market and search for your preferred trading pair, for example, XAUT/USDT or PAXG/USDT.
Step 2: Click the AI icon on the chart to activate BingX AI, which displays support and resistance levels, detects potential breakout zones, and suggests entry points based on current price action.
Step 3: Choose between a Market Order for instant execution or a Limit Order at your preferred price. Once your trade is completed, your tokens will appear in your BingX balance, ready to hold or transfer to an external wallet.
2. Trade Gold-Backed Tokens with Leverage on Futures
For more active traders, the BingX Futures Market allows you to trade gold-backed tokens with leverage, enabling profit opportunities in both rising and falling gold markets.
Step 2: Click the AI icon on the chart to activate BingX AI, which analyzes price trends, volatility, and momentum in real time to assist with trade timing.
Step 3: Adjust your leverage level, set your entry price, and choose between a Long (Buy) or Short (Sell) position depending on your market outlook. Manage your position using Stop-Loss and Take-Profit levels for better risk control.
Final Thought
The surge in gold prices throughout 2025 is more than a reaction to economic uncertainty; it marks a structural shift in how markets define and store value. As physical gold breaks above $4,300 per ounce and tokenized gold surpasses $3 billion in market capitalization, the metal is quietly embedding itself into the digital financial infrastructure.
Beyond short-term speculation, the rise of tokens like Tether Gold (XAUT) and PAX Gold (PAXG) reflects a transformation in the architecture of trust. Investors are no longer satisfied with owning gold; they now expect verifiable, borderless, and instantly transferable ownership. This evolution turns gold from a static hedge into a composable financial component that can interact with broader blockchain ecosystems.
Gold tokenization is not just about putting metal on-chain, it is about putting the concept of value itself on-chain. 2025 may well be remembered as the year gold completed its digital transition from vaults to the networked economy.