Gold Rush: Tokenized Assets & DeFi Lending Surge
Gold Goes Digital: Tokenization Takes Center Stage
Gold is shining as a top-performing asset in 2025, fueled by economic uncertainty and strong central bank demand. Investors are turning to this traditional safe haven, driving its value up by approximately 35% year-to-date, reaching record highs above $3,600 an ounce.
This week, we examine gold's resurgence, the growth of DeFi lending platforms, and recent moves in the crypto market.
Tokenized Gold Access for US IRAs
SmartGold, an IRA provider, is partnering with Chintai Nexus to tokenize vaulted gold, enabling investors to utilize it within DeFi lending platforms like Morpho and Kamino. This allows investors to earn yield while maintaining the tax advantages of their self-directed IRAs.
The gold tokenization trend is gaining momentum, with:
- International Precious Metals Bullion Group introducing tokenized products across its supply chain.
- Tether's XAUT, a gold-backed stablecoin, exceeding $1.3 billion in market value.
DeFi Lending Soars on RWA Growth
Decentralized finance (DeFi) lending is experiencing significant growth, driven by the adoption of stablecoins and real-world assets (RWAs) by institutions.
Binance Research reports a 72% increase in total value locked (TVL) in DeFi lending protocols this year, rising from $53 billion to $127 billion.
Tokenized RWAs are a key driver, with the market expanding to nearly $28 billion, primarily led by tokenized private credit and US Treasury bonds.
Figure Technology Aims for $526 Million IPO
Figure Technology Solutions is seeking to raise up to $526 million in a US initial public offering (IPO), targeting a valuation exceeding $4 billion. The company plans to offer 21.5 million shares, priced between $18 and $20.
Figure, known for offering financial products on the Provenance Blockchain, reported revenue of $191 million in the first half of the year.
Other crypto firms considering similar moves include:
- Gemini, potentially raising up to $317 million.
- Kraken, reportedly seeking to raise about $500 million.
Gryphon and American Bitcoin Complete Merger
Gryphon Digital Mining shareholders have approved a merger with American Bitcoin, a mining company with ties to the Trump family. The combined entity will trade under the ticker symbol “ABTC.”
The merger involves a reverse stock split, reducing Gryphon's outstanding shares to approximately 16.6 million from 82.8 million.
American Bitcoin is a rebrand of American Data Center, launched by Trump's sons in March, and is associated with mining company Hut 8.