Commodity-backed cryptocurrencies dominated by gold-backed tokens, with a historic surge in issuances this week, with coins reaching their highest in at least five years.
The leap is after gold futures Transactions over $3,500 The highest in history this week after Swiss precious metals association warn The U.S. 39% tariff on Switzerland could have a “negative impact” on international physical gold flows. A White House official told Bloomberg that the president will propose a policy to clarify that imports of gold bars should not be subject to tariffs.
However, this did not prevent the gold medal token from being minted.
Warning also sees cryptocurrencies based on gold
and Paxos Gold (PAXG)briefly $3,390 before retreating. Casting quantity, per rwa.xyz The data reached $439 million in a week, doubled the $195 million record in 2021.
These tokens are backed by physical reserves held in the vault, allowing investors to access precious metals and can be transferred immediately to the chain without crossing the border.
Switzerland, despite not having its own mines, is still exporting More than $61 billion The value of metals over the past year.
The move sparked strong political opposition in Switzerland, with some MPs calling on the gold sector to assume part of the economic impact. Precious metals account for more than a quarter of Switzerland’s exports Swiss National Bank data.
