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Overseas Chinese Banking Corporation in Singapore launches tokenized physical gold fund on Ethereum and Solana
BlockBeats News, April 21 — One of Singapore’s largest banks, OCBC Bank, through its asset management company Lion Global Investors, launched a tokenized physical gold fund, with its underlying token GOLDX issued on both the Ethereum and Solana blockchains. The token is available to institutional investors, hedge funds, and asset management firms, and can be bought and sold using stablecoins and fiat currency. After subscription, the tokens are directly delivered to investors’ blockchain wallets.
Kenneth Lai, Head of Global Markets at OCBC Bank, stated that this move is part of the company’s new strategy, aiming to “connect traditional finance with the emerging decentralized finance world.” The tokenized fund aims to attract Web3 ecosystem participants and high-net-worth individuals.
The GOLDX token provides on-chain exposure to LionGlobal’s Singapore physical gold fund, which was launched in December last year and managed approximately $525 million as of April 16. Data shows that the value of tokenized real-world assets on public blockchains has exceeded $29 billion, with over 10% growth in the past 30 days. Since OCBC first issued tokenized stock-linked notes to qualified investors in 2023, the bank has been exploring blockchain technology applications.