Matrixdock Launches LBMA-Backed XAUm Gold Token on Sui
Matrixdock, Asia’s leading real-world asset (RWA) tokenization platform under Matrixport Group, has launched its gold-backed token XAUm on the Sui blockchain. This marks XAUm’s first issuance on a non-EVM chain. Each XAUm token is backed 1:1 by LBMA-accredited gold of 99.99% purity and audited by Bureau Veritas. The Sui blockchain was chosen for its parallel execution, sub-second finality, and horizontal scalability, enabling fast and cost-efficient tokenized gold transactions. The launch expands XAUm’s digital utility and underscores growing demand for secure, asset-backed tokens.
Bullish
The launch of XAUm on the Sui blockchain is a bullish development for both the tokenized gold sector and SUI demand. Historically, expanding a gold-backed token onto new chains—such as Tether’s XAUT rollout on Tron—has driven increased trading volumes and on-chain liquidity. Sui’s technical advantages, including parallel execution and sub-second finality, will likely lower transaction costs and attract institutional and retail users seeking secure asset-backed tokens. In the short term, XAUm trading volume on Sui may boost SUI token usage and network fees. Over the long term, broader asset tokenization on high-performance chains can deepen DeFi liquidity pools and foster mainstream adoption, supporting sustained ecosystem growth.