Aug 10th 2020
Market cap of commodity-backed gold tokens surpasses $100 million
The last year, both Paxos and Tether have launched gold backed digital tokens.
Source: Tether, CoinMarketCap
PAX Gold was the first regulated gold token launching back in September 2019. Each token represents a fine troy ounce, held in a London vault. The Tether Gold token on the other hand, was launched this January, and represents the ownership of one troy fine ounce of physical gold, held in a Swiss vault.
The Tether Gold market cap quickly surpassed the market cap of PAX Gold and has maintained its position as market leader ever since.