Lion Global Investors, the asset management arm of Singapore’s second biggest bank OCBC, has launched a gold token on public blockchains. The GOLDX tokens are tied to the LionGlobal Singapore Physical Gold Fund and issued on both Ethereum and Solana. The companies partnered with Singapore-regulated DigiFT for tokenization and distribution.
OCBC says it is a first for a physical gold fund to be tokenized on public blockchains in Southeast Asia. The underlying fund is relatively new but, amid geopolitical uncertainties, has attracted S$669.4 million (US$525.9 million) in investment since launching four months ago. Institutions and accredited investors are the target audience for the tokens, with the ability to settle in stablecoin or fiat also appealing to web3 investors. We’ve requested clarification about whether the tokens are for a natively digital share class or tokenize existing fund shares.
“Our focus is on bridging traditional finance with the emerging world of decentralised finance,” said Kenneth Lai, Head of Global Markets at OCBC, which originated and structured the GOLDX token. “By bringing real-world assets on-chain – like we have done with this token – we aim to enable stablecoin capital to be invested in these assets while maintaining the standards and safeguards expected by investors.”
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