Odaily Planet Daily reports that crypto market maker Wintermute has announced the official launch of its OTC desk offering tokenized gold trading services for institutional clients, supporting the two major gold-pegged tokens Pax Gold (PAXG) and Tether Gold (XAUT), marking the company’s entry into the tokenized commodities market.
Wintermute stated that it will provide algorithm-optimized spot execution services to offer institutional investors blockchain-settled gold trading exposure. CEO Evgeny Gaevoy expects that as institutional demand grows, the tokenized gold market size could expand to $15 billion by 2026, approximately 2.8 times the current size.
Data shows that in Q4 2025, tokenized gold trading volume surpassed that of five major gold ETFs for the first time, reaching a total of $126 billion. During the same period, on-chain gold market capitalization increased by over 80% in three months, rising from approximately $2.99 billion to $5.4 billion, reflecting rising market demand for 24/7 liquidity and instant settlement.
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