OCBC Bank Launches Tokenized Physical Gold Fund on Ethereum and Solana

On April 21, Lion Global Investors, an asset management company under Singapore’s largest bank OCBC, launched a tokenized physical gold fund with the underlying token GOLDX issued on both the Ethereum and Solana blockchains. The token is aimed at institutional investors, hedge funds, and asset management companies, allowing trading with stablecoins and fiat currencies. After purchase, the tokens will be directly delivered to the investors’ blockchain wallets. Kenneth Lai, OCBC’s Global Markets Head, stated that this initiative is part of the new company’s strategy to ‘connect traditional finance with the emerging decentralized finance world.’ The tokenized fund aims to attract participants from the Web3 ecosystem 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 manages approximately $525 million in assets as of April 16. Data shows that the value of tokenized real-world assets on public blockchains has exceeded $29 billion, with over a 10% increase in the past 30 days. Since 2023, OCBC has been exploring blockchain technology applications, having first issued tokenized stock-linked notes for qualified investors.