Commodities & gold

Tokens backed by physical commodities — mostly gold stored in audited vaults (for example PAXG). One token represents a fixed quantity of the metal; the price follows the spot market. No ongoing yield, but a tangible underlying.

Assets7
Platforms4
8 assets · access calculated for Germany
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PAX Gold

Paxos (PAX Gold) · Commodities
Available
Retail
Price$4.060,18
Yield (APY)—
TVL$1,79B
Liquidity 24h💧 $110,5M
PAXG
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Tether Gold

Tether Gold (XAUt) · Commodities
Available
Retail
Price$4.054,31
Yield (APY)—
TVL$2,48B
Liquidity 24h💧 $192,6M
XAUt
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Matrixdock Gold

Matrixdock · Commodities
Limited
Retail
Price$4.065,46
Yield (APY)—
TVL$66,4M
Liquidity 24h💧 $473K
XAUm
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Goldman Sachs xStock

Backed Finance · Commodities
Limited
Retail
Price$1.008,05
Yield (APY)—
TVL$313K
Liquidity 24h💧 $4K
GSX
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Gold xStock

Backed Finance · Commodities
Limited
Retail
Price$373,06
Yield (APY)—
TVL$8,5M
Liquidity 24h💧 $337K
GLDX

Platforms in this category

Backed Finance 4 assets

Tokenized equities/ETFs/bonds (bTokens / xStocks), backed 1:1; retail buys on the secondary market. A Kraken subsidiary since 4 Dec 2025.

 Matrixdock 1 assets

Matrixdock (by Matrixport, Singapore) tokenizes short-duration US treasuries (STBT, institutional/gated) and LBMA gold (XAUm, retail via CEX/DEX).

 Paxos (PAX Gold) 1 assets

Physically backed LBMA gold as a token (1 PAXG = 1 troy ounce of gold). Paxos is US-regulated (NYDFS, OCC approval); retail with KYC, available in the US.

 Tether Gold (XAUt) 1 assets

Physically backed gold as a token (1 XAU₮ = 1 troy ounce of gold). Retail via direct purchase from Tether with KYC, 18+. US persons excluded.

Frequently asked questions

Does one token really equal physical gold?

With audited products (e.g. PAXG), one token represents a fixed quantity of vaulted gold and audits confirm the reserves. Some issuers allow redemption for physical metal, usually above minimum quantities.

Why is there no yield?

Commodities pay no interest or rent. The return comes solely from the metal's price — minus any storage or fees priced into the product.

How does the token price track the spot market?

Traders arbitrage the difference: if the token is cheaper than the metal, they buy the token and redeem it — that keeps the price close to the spot price.