Gold-backed stablecoins nearly triple to $4b as one token dominates 2025

Gold-backed stablecoins have nearly tripled to $4b in 2025 as one token overtakes its rival, riding record gold prices, macro risk, and issuer vault accumulation.

Gold-backed stablecoins have reached approximately $4 billion in market capitalization, nearly tripling since the start of 2025.

Gold moving into stablecoin backed entities

One token accounts for approximately half of the total market, while another major token holds a significant share, with the two together representing nearly 90% of tokenized gold holdings, the data showed. The leading token surpassed its competitor following supply expansion throughout 2025.

The growth in tokenized gold has occurred alongside a substantial increase in gold prices year-to-date, attributed to macroeconomic uncertainty, geopolitical tensions, and sustained global demand for the precious metal.

Gold-backed stablecoins enable investors to hold fractional ownership of physical gold bars stored in secure vaults, providing exposure to gold through blockchain-based tokens that can be traded on cryptocurrency platforms.

A major stablecoin issuer has become a notable institutional holder of gold, acquiring quantities that place it among the top global gold holders according to International Monetary Fund data, ahead of several national reserves.

The development reflects growing institutional and retail interest in digital assets backed by traditional commodities, offering features such as liquidity, transparency, and cross-border transferability while maintaining price correlation with physical gold.