Matrixdock has launched XAUm, its tokenized gold asset, on Arc, Circle’s Layer-1 blockchain, making it the network’s first tokenized gold asset. Each XAUm represents one troy ounce of 99.99% pure physical gold held in allocated form at Brink’s or Malca-Amit vaults in Hong Kong and Singapore. The tokens are traceable to numbered bars, and Matrixdock publishes reserve reports and on-chain Proof of Reserves while Bureau Veritas conducts independent physical audits. Eligible sellers can receive cash, including USDC, on the same day after providing transaction evidence, but Matrixdock’s own documentation says redemptions take three working days. A physical redemption in April 2025 took three days for a customer collecting a one-kilogram bar in Singapore. XAUm requires 32.148 tokens for a kilogram bar collected in Singapore or Hong Kong, compared with 430 PAXG for a London Good Delivery bar through Paxos. XAUm operates across eight networks, including Arc, while Tether Gold and PAX Gold use fewer networks. The token had a market value of about $71 million on May 1, far below Tether Gold’s $2.52 billion and PAX Gold’s $2.32 billion. Matrixdock says lending against XAUm will come later; currently, the gold can be sold on Arc but not borrowed against.