After Gold Futures, GCEX Adds Paxos and Tether Tokenized Gold for On-Chain Trading

GCEX Group said today (Tuesday) it has added tokenized gold trading to its platform for institutional and professional clients, offering access to two gold-backed digital tokens alongside traditional CFD alternatives.

The London-based digital prime brokerage said clients can now trade Pax Gold (PAXG) and Tether Gold (XAUt) against USDC, USDT and the US dollar. Both tokens are also available as CFDs settled in USD, a structure where clients gain price exposure to gold without holding the token directly.

Riding a Broader Gold Push

The addition builds on GCEX's January launch of gold futures CFDs, which the firm said at the time was driven by growing institutional interest in commodity derivatives. Lars Holst, GCEX's chief executive, described Tuesday's expansion as "a natural next step."

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"We look forward to offering institutional clients efficient, fully on-chain access to physical gold via leading tokenized products," Holst said. "It is an offering which is welcomed by clients as it enables them to trade through digital settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term mechanisms."

The company said the tokenized products are available 24 hours a day, seven days a week, year-round, a difference it draws from traditional commodity futures markets that trade on exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term hours.

Two Products, Two Custodians

PAXG is an ERC-20 token issued by Paxos Trust Company and regulated by the New York Department of Financial Services. Each token represents one fine troy ounce of London Good Delivery gold held in LBMA-accredited vaults in London, according to the issuer, with monthly independent audits providing bar-level transparency.

XAUt, issued by TG Commodities, represents one troy ounce of 99.99% pure physical gold stored in Swiss vaults, with quarterly attestations. The token is designed for on-chain transferability of allocated gold bar ownership, TG Commodities says.

On-Chain Gold Gains Traction Across the Industry

Interest in tokenized gold has been building more broadly. In August 2025, Bybit integrated gold tokenization through a TON blockchain partnership, a sign that appetite for on-chain precious metal products has been spreading across crypto platforms. Gold-backed tokens have attracted institutional attention partly because they allow exposure to physical gold without the logistical challenges of direct delivery or custody.

GCEX has been systematically widening its commodity offering over the past year. In June 2025, the firm expanded into oil, gas and metals with eight new spot products, a move Holst said was a response to client demand for physical commodity exposure without delivery complexity.

Institutional Only, With Regulatory Strings Attached

GCEX said the offering is restricted to institutional and professional clients only and is not available to retail traders. CFDs on gold, the firm noted, are complex instruments carrying a high risk of loss, a standard regulatory disclosure.

The company operates under authorization from the UK's Financial Conduct Authority and holds a crypto-asset service provider license in Denmark under the EU's MiCA framework, secured in December 2025. It also holds a virtual asset service provider license from Dubai's Virtual Assets Regulatory Authority.

The tokenized gold launch follows a run of corporate moves at GCEX. The company acquired digital asset firm GlobalBlock in September 2025 to add wealth management capabilities, and rolled out a mobile trading app for institutional crypto and FX clients earlier that year. True Global Ventures remains an investor in the firm.