As rising gold prices and the vaults of major issuers put tokenized bullion in the spotlight, gold-backed stablecoins soared to around $4 billion in 2025, led by two tokens that accounted for nearly 90% of the supply.
summary
- The market capitalization of gold-backed stablecoins has reached nearly $4 billion, according to data from Catena News, nearly tripling since the beginning of 2025 as one token expands supply and overtakes its main rival.
- The top two tokens currently account for nearly 90% of tokenized gold, offering fractional claims on vault bars and tracking a spot market driven higher by macro risk and central bank demand.
- The leading stablecoin issuer has quietly become one of the world’s largest non-sovereign gold holders, with bullion reserves rivaling those of small and medium-sized central banks.
According to market data, the market capitalization of gold-backed stablecoins has reached nearly $4 billion, nearly tripling since the beginning of 2025.
Gold-backed stablecoins increase in value
The data showed that one token accounts for about half of the total market, with the other leading token accounting for the lion’s share, and the two together account for almost 90% of tokenized gold holdings. The leading token outperformed its competitors after expanding supply throughout 2025.
You may also like: Exodus leverages MoonPay and M0 to launch reservation-only digital dollar in 2026
The growth in tokenized gold has occurred in parallel with a significant increase in gold prices since the beginning of the year, driven by macroeconomic uncertainty, geopolitical tensions, and sustained global demand for the precious metal.
Gold-backed stablecoins allow investors to hold fractional ownership of physical gold bars held in a secure vault, providing exposure to gold through blockchain-based tokens that can be traded on cryptocurrency platforms.
Major stablecoin issuers have become prominent institutional gold holders and have some of the world’s largest gold holdings, eclipsing some national reserves, according to International Monetary Fund data.
This development reflects growing interest from institutional investors and retailers in digital assets backed by traditional products that offer features such as liquidity, transparency and cross-border transferability while maintaining price correlation with physical gold.
read more: BitMart leads in BTC perpetual liquidity across top centralized exchanges
