According to ixbroker, gold-backed stablecoins have surged to nearly $4 billion in market capitalisation in 2025, almost tripling since the start of the year as soaring gold prices and growing institutional participation push tokenised bullion further into the spotlight.
Market data shows that the sector’s rapid expansion has been driven by a small number of dominant players, highlighting increasing concentration within the tokenised gold market.
Gold-backed stablecoins gain traction
One gold-backed stablecoin now accounts for roughly half of the total market capitalisation, while a second major token holds a substantial additional share. Together, the two represent close to 90% of the total supply of tokenised gold, underscoring their dominance in the sector. Data indicates that the leading token overtook its closest competitor in 2025 following aggressive supply expansion.
The rise in tokenised gold has coincided with a sharp increase in gold prices year-to-date, supported by macroeconomic uncertainty, elevated geopolitical tensions, and sustained global demand for safe-haven assets.
Tokenised bullion attracts institutional interest
Gold-backed stablecoins allow investors to gain fractional exposure to physical gold bars held in secure vaults, offering a blockchain-based alternative to traditional gold ownership. These tokens can be traded on cryptocurrency platforms while maintaining price correlation with physical bullion.
Notably, one major stablecoin issuer has emerged as a significant institutional holder of gold, accumulating reserves large enough to rank it among the world’s top gold holders, according to International Monetary Fund data, surpassing the holdings of several national reserves.
Digital gold bridges traditional and crypto markets
The rapid growth of gold-backed stablecoins reflects rising interest from both institutional and retail investors in digital assets linked to traditional commodities. By combining the stability of gold with the liquidity, transparency, and cross-border transferability of blockchain technology, tokenised bullion is increasingly viewed as a bridge between conventional finance and the digital asset ecosystem.
As demand for inflation hedges and alternative stores of value remains strong, gold-backed stablecoins are positioning themselves as a key segment within the broader stablecoin and real-world asset tokenisation landscape.
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