Gold has become one of the best-performing assets of 2025, driven by geopolitical uncertainty, record central bank purchases, and skepticism about policymakers' ability to control inflation amid expanding fiscal deficits.
While Bitcoin (BTC) is often referred to as "digital gold," this traditional safe-haven asset is regaining investor attention. Gold has risen about 35% so far this year, climbing to a historic high of over $3,600 per ounce.
After partnering with Chintai Nexus and SmartGold, U.S. retirement planners now have a new way to acquire this metal through blockchain-based tokenization. This initiative adds momentum to the broader trend of tokenization, which is attracting increasing institutional interest in digital assets.
This week's Crypto Biz discusses the rise of gold, the emergence of decentralized finance (DeFi) lending, and the latest public offerings from cryptocurrency companies.
IRA provider SmartGold has partnered with the tokenization platform Chintai Nexus, allowing investors to bring their vault gold on-chain, where they can earn yields through DeFi lending platforms like Morpho and Kamino.
For users who choose to participate, SmartGold's IRA holds gold bars that are tokenized on a one-to-one basis through Chintai, creating a digital representation of the underlying physical gold—while maintaining the tax-deferred status of a self-directed IRA.
The trend of gold tokenization is accelerating. The International Precious Metals Bar Group recently launched tokenized products in its supply chain, while Tether's gold-backed stablecoin XAUT has surpassed a market capitalization of $1.3 billion.
Decentralized finance lending is gaining attention among institutions, driven by the rapid rise of stablecoins and real-world assets (RWA), fueling new network activity.
According to Binance Research, the total locked value in DeFi lending protocols has surged 72% so far this year—from $53 billion to $127 billion.
Binance Research noted in a report: "As the adoption of stablecoins and tokenized assets accelerates, DeFi lending protocols are increasingly capable of facilitating institutional participation."
Tokenized RWAs have become one of the fastest-growing use cases for cryptocurrency in 2025. Industry data shows that the market has expanded to nearly $28 billion, led by tokenized private credit and U.S. Treasury bonds, with tokenized stocks also developing.
Figure Technology Solutions has become the latest cryptocurrency-focused company seeking a U.S. initial public offering (IPO), aiming to raise up to $526 million, with a valuation exceeding $4 billion.
According to regulatory filings, the company plans to sell 21.5 million shares at a price of $18 to $20. Figure had previously expressed its intention to go public, and if the deal proceeds as expected, the IPO could be priced as early as September 10.
Figure is known for offering financial products on the Provenance blockchain and reported $191 million in revenue in the first half of this year. While the target valuation may seem ambitious, the company was valued at $3.2 billion in 2021.
Several cryptocurrency companies have recently gone public or indicated plans to do so. As reported by Cointelegraph, the cryptocurrency exchange Gemini is seeking to raise up to $317 million in its listing, while separate reports indicate that Kraken is looking to raise about $500 million.
Shareholders of Gryphon Digital Mining have approved a merger with American Bitcoin, a mining company associated with U.S. President Donald Trump's family. The merged entity will trade under the ticker symbol "ABTC."
As part of the deal, a reverse stock split will reduce Gryphon's outstanding shares from 82.8 million to about 16.6 million. This move follows a preliminary agreement announced in May, when American Bitcoin outlined its intention to go public through a merger with Gryphon.
American Bitcoin itself is a rebranding of American Data Center, launched by Trump's sons in March, and is associated with the mining company Hut 8. Upon its debut, the company described itself as a "pure" Bitcoin miner, planning to accumulate a significant amount of cryptocurrency holdings.
Related: As Stripe and Fireblocks launch payment networks, global stablecoin competition intensifies
Original: “Crypto Biz: Can Tokenized Gold Surpass Bitcoin (BTC) as the True ‘Digital Gold’?”
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