On October 22, 2025, Matrixport, a global one-stop crypto finance platform, hosted an AMA event titled "Why is Gold Entering a Parabolic Rise? What's Next for the On-Chain World?" The event featured Josh, Head of Business Development at Matrixdock, and James Friel, Head of Ecosystem at Plume Network. The discussion was moderated by Derrick, a reporter for Odaily. The discussion focused on the macroeconomic drivers behind gold's record-breaking rally and how tokenized gold, represented by XAUm, is accelerating the adoption of RWAs (Real-World Assets) in DeFi and CeFi.

Gold's parabolic rise: structural repricing rather than short-term speculation

Josh (Matrixdock) points out that gold's surge from $2,600 to over $4,300 isn't a short-term speculation, but rather a structural repricing of the macro landscape. Factors such as persistent inflation, expectations of interest rate cuts, and Trump's return to the White House have combined to increase dollar liquidity and drive a reassessment of gold's value.

He stated that gold's rise of over 40% this year has surpassed both the stock market and Bitcoin, demonstrating its transformation from a purely safe-haven asset to a store of value with growth potential. The recent slight pullback is merely a healthy consolidation, and long-term support remains solid.

Tokenized Gold: Neutral Collateral for Global Markets

As political risks rise in traditional assets like US Treasuries, James Friel (Plume Network) highlighted gold's potential as a neutral collateral in DeFi and CeFi systems. He noted that tokenizing RWAs can help investors diversify risk and hedge against volatility while maintaining liquidity. Josh added that once gold is on-chain, it can connect to a stablecoin-driven liquidity layer, enabling 24/7 access to assets previously locked in vaults.

"Through XAUm, gold can not only be lent for stablecoins, but also participate in liquidity mining." The two guests agreed that tokenized gold is forming a real bridge between traditional value reserves and decentralized markets.

XAUm: A transparent and trusted institutional-grade gold token

Josh explained that XAUm is fully backed by physical gold certified by the London Bullion Market Association (LBMA) and stored in vaults in Hong Kong and Singapore. Its three-tiered transparency mechanism includes monthly on-chain vault reporting, semi-annual audits by Bureau Veritas, and smart contracts to prevent over-minting.

XAUm has been launched on six public blockchains: Ethereum, BSC, Sui, Plume, HashKey, and Tron. It can be traded on Uniswap and PancakeSwap, integrated into lending protocols, and will even be used for payments in the future. Imagine buying coffee in the US with gold stored in a Singapore vault. This is the potential of tokenization.

James said that Plume is adding DeFi composability to real-income RWA: allowing receipt tokens to be used for collateral, perpetual contracts, and lending.

Transforming gold from “static” to “interest-bearing”

Josh believes that tokenization transforms gold from a "dormant asset" into an "interest-earning asset." Essentially, tokenized gold is a better asset: it's the same gold, but with greater liquidity, divisibility, and 24/7 availability. Holders can trade, transfer, or hold XAUm at any time, unlike ETFs, which have trading hours restrictions, or physical gold, which is restricted by geographic location.

Furthermore, tokenized gold can be incorporated into DeFi to generate returns: holders can use XAUm as collateral to borrow stablecoins or use it in lending markets. By leveraging the borrowed liquidity to arbitrage stablecoins, investors can earn gold-denominated returns, a feat not possible with traditional gold investments. Therefore, XAUm is not just a store of value but also a yield-generating on-chain asset.

James added that XAUm’s liquidity and redemption capabilities make it institutional-grade ready, ensuring the trust of both retail and professional investors.

Institutional entry channel: Gold remains the key entry point for RWA

James pointed out that the $29 trillion gold market provides a natural entry point for institutions to blockchain. "Gold, with its history, liquidity, and regulatory recognition, is an ideal starting point for institutions to enter digital finance." Josh also believes that bringing a small portion of the traditional gold market to blockchain could significantly expand DeFi liquidity. Tokenized gold does not replace traditional finance, but rather extends it into the digital realm, becoming the foundational asset of the RWA system.

Currently, Matrixdock is focused on liquidity and practicality in DeFi, primarily focusing on Sui and Plume, while also expanding into channels such as exchanges, custodians, and asset managers. Josh stated that DeFi remains a testing ground for validating real market demand, while James added that Plume will continue to refine its RWA compliance and interoperability architecture to serve institutional-grade capital flows.

The panelists agreed that while gold's parabolic rise stems from macroeconomic factors, its on-chain future is already underway. Through XAUm, Matrixport and Plume Network are reshaping the relationship between trust, liquidity, and real assets, propelling global finance towards a new era of digital gold.