Bitcoin has long been regarded as the ultimate store of value. However, a new generation of tokenized gold projects is making a compelling case for itself, grounded in centuries of monetary history.

As the gold price soars and blockchain-based gold tokens surpass a $3 billion market capitalization, the debate over what truly qualifies as “digital gold” is intensifying.

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Bitcoin Faces Its Oldest Rival Again as Gold Goes On-Chain

Recent developments suggest that the tokenization of physical gold is no longer a theoretical experiment, but a fast-emerging market reality.

In April, Kinka, a subsidiary of Japan’s publicly listed fintech company UNBANKED, officially issued physical gold-backed tokens on the Cardano blockchain using EMURGO’s tokenization engine.

Meanwhile, BioSig Technologies and Streamex Exchange Corporation finalized $1.1 billion in financing to launch a gold-backed treasury management platform on Solana in July. The initiative, led by Cantor Fitzgerald, Needham & Co., and CIBC, aims to bring the $142 trillion commodities market on-chain.

The momentum goes beyond these. Tether and Antalpha are reportedly raising $200 million to create a digital asset treasury centered on Tether Gold (XAUT), backed by bullion stored in Swiss vaults.

At the same time, SmartGold partnered with Chintai Nexus to tokenize up to $1.6 billion worth of gold from American investors’ retirement accounts, allowing holders to earn DeFi yields without losing tax-def

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Author: Lockridge Okoth