Marketnode and Singapore-based asset manager Lion Global Investors are bringing the latter’s Singapore Physical Gold Fund onchain to Solana, offering exposure to gold bars fully stored and insured in Singapore.
The fund will allow investors to subscribe to units and redeem them onchain through Marketnode’s distribution network, while retaining traditional custody, full insurance on allocated bars and an in-kind redemption option, according to an emailed announcement on Thursday.
LionGlobal’s Enhanced Liquidity funds in SGD and USD will also be available through the same platform.
According to CoinGecko, the market capitalization of tokenized gold has now surpassed $4.1 billion. Earlier this week, Bhutan unveiled TER, a state-backed gold coin on Solana, pegged to state reserves, shortly after Kyrgyzstan introduced USDKG, a gold-backed stablecoin pegged to the US dollar.
Rising gold prices, which hit a record $4,400 an ounce in October before correcting to $4,200, and clearer regulations such as the US GENIUS Act have buoyed the tokenized gold market, which is dominated by Tether’s XAUT and Paxos’ PAXG.