Oversea-Chinese Banking Corporation (OCBC) has launched a tokenized physical gold fund on Ethereum and Solana.

April 21st — Lion Global Investors, the asset management arm of Singapore’s OCBC Bank (one of the country’s largest lenders), has launched a tokenized physical gold fund. Its underlying token, GOLDX, is now live on both the Ethereum and Solana blockchains. Targeted at institutional investors, hedge funds, and asset management firms, GOLDX can be traded with stablecoins and fiat currencies. Upon subscription, tokens are delivered directly to investors’ blockchain wallets. OCBC Head of Global Markets Kenneth Lai noted the move aligns with the bank’s new strategy to “bridge traditional finance and the growing decentralized finance (DeFi) ecosystem.” The tokenized fund is also designed to attract Web3 participants and high-net-worth individuals (HNWIs). GOLDX offers on-chain exposure to LionGlobal’s Singapore Physical Gold Fund, which launched in December 2023 and held ~$525 million in assets under management (AUM) as of April 16. Industry data shows tokenized real-world assets (RWAs) on public blockchains have topped $29 billion, growing by more than 10% in the past 30 days. OCBC has been exploring blockchain applications since 2023, when it issued tokenized stock-linked notes for eligible investors.