The World Gold Council has released a white paper, co-authored with Boston Consulting Group, proposing a shared platform for companies that issue gold-backed digital tokens. The framework, called Gold as a Service, would allow token issuers to access a common network for managing physical gold reserves rather than building their own custody arrangements independently.
The initiative aims to improve confidence in tokenized gold through continuous audits and greater fungibility across products. Current market leaders Paxos and Tether have each built separate custody and issuance pipelines, with their combined gold-backed tokens reaching a market cap of $4.9 billion, according to CoinGecko.
Mike Oswin, the council’s Global Head of Market Structure and Innovation, said the service could lower barriers for new entrants. Unlike stablecoins, gold incurs storage costs and generates no income, making shared infrastructure economically attractive for potential issuers.
Originally reported by Decrypt.
