
Theo unveils thGOLD — a yield-bearing tokenized gold built for DeFi
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Hang Seng debuts physically backed Hong Kong gold ETF with plans for tokenized units
Hang Seng Investment Management listed a physically backed gold ETF in Hong Kong that stores LBMA good‑delivery bullion in local HSBC vaults, trades in Hong Kong dollars, and charges 0.40% a year with an estimated -0.50% tracking difference. The manager also proposes a separate, unlisted tokenized representation — initially to be issued by HSBC on Ethereum and sold only via approved distributors — a deliberately conservative design that contrasts with other market experiments that embed on‑chain tradability and lending yields.

Wintermute expands institutional OTC to tokenized gold, projects $15B market (UK)
Wintermute has launched an institutional OTC desk to execute large-lot trades in PAXG and XAUT , positioning itself as an execution partner for professional clients seeking onchain bullion exposure. The move comes as tokenized-gold activity surges — including $126B in reported volume in Q4 2025 and a near 80% market-cap jump to $5.4B — and amid parallel industry developments such as new yield-bearing gold tokens and large private metal accumulations that are reshaping liquidity and operational risk dynamics.

Galaxy Digital leads $7M seed round for Tenbin to tokenize gold and emerging‑market FX on CME-linked rails
Tenbin raised $7 million in a seed round led by Galaxy Ventures to launch tokenized gold and FX products that use CME futures hedging to keep on‑chain prices aligned with off‑chain markets. The startup aims to deliver faster settlement, improved liquidity and yield capture for token holders while integrating with DeFi protocols and prime brokers.
Tether Accumulates Massive Gold Hoard, Buying Up to Two Tons Weekly and Storing It in Switzerland
Tether has been acquiring physical gold at a reported clip of up to two tonnes per week, adding roughly $1 billion a month to its bullion holdings and storing metal in a high-security Swiss facility. The company’s cumulative stash—about 140 tonnes valued near $24 billion—positions it among the largest non-sovereign holders and raises questions about price impact, tokenization risks, and market concentration.

Fidelity unveils FIDD, a regulated dollar stablecoin built on Ethereum
Fidelity will issue a dollar‑pegged stablecoin called FIDD in early February, built on Ethereum and redeemable at $1 on Fidelity platforms with reserves held in cash and short‑term Treasuries and published daily with third‑party attestations. The launch arrives amid a broader industry push — including exchanges testing branded or white‑label tokens anchored to custodial USDC — underscoring different design trade‑offs around custody, counterparty exposure and distribution strategies.
Franklin Templeton and Binance launch off-exchange tokenized fund collateral for institutional trading
Franklin Templeton and Binance unveiled a program that lets institutional traders pledge tokenized money-market fund units as collateral while custodians keep the assets outside the exchange. The arrangement aims to lower counterparty exposure and improve capital efficiency by letting pledged holdings keep earning yield while mirrored within Binance’s trading environment.

Ondo taps Chainlink to power on‑chain pricing for tokenized U.S. equities
Ondo Finance has connected Chainlink price oracles to its tokenized U.S. equity products on Ethereum, enabling live, corporate‑action aware reference prices that protocols such as Euler can use to accept those tokens as collateral. The integration — with risk parameters overseen by Sentora — aims to make tokenized stocks and ETFs more usable inside DeFi while highlighting operational and market‑structure frictions that still need resolution.

Institutions shift toward TradFi-style bitcoin yield, GlobalStake co-founder says
Institutional allocators are revisiting bitcoin yield as custodial, fully collateralized and market-neutral structures emerge to match familiar TradFi risk profiles. GlobalStake has launched a Bitcoin Yield Gateway and expects roughly $500 million of BTC allocations in the early rollout, a sign that yield-first products may coax treasuries and funds off passive custody.