- Matrixdock is issuing tokenized silver on Sui, which holders can use for trading, lending, and collateralization across various DeFi applications.
Sui (SUI) is expanding its horizons in real-world asset tokenization. Matrixdock, an RWA leader founded by Matrixport, has announced its integration into the chain, further expanding its growing ecosystem.
Key Features of XAGm Silver Token
On Tuesday, Matrixdock revealed that it’s tapping Sui for the issuance of its tokenized silver asset, XAGm. The product is the first institutional-grade silver asset natively issued on Sui. It also marks Matrixdock’s entry into silver tokenization.
According to Matrixdock, silver stands out from gold in terms of active use, driven by its higher volatility and industrial demand. Holders can use the new token for trading, lending, and collateralization in decentralized finance (DeFi), especially in perpetuals and other derivatives.
The company fully backed XAGm with London Bullion Market Association (LBMA) Good Delivery silver bars. Additionally, it links each token directly to underlying vaulted bullion verified by independent audits and under professional custody.
Matrixdock claimed that XAGm fills the opportunities left behind by the scarcity of institutional-grade on-chain silver. It highlighted that tokenization transforms a traditionally static asset into one that can seamlessly move across various financial applications.
Matrixdock’s silver token leverages Sui’s scalability to facilitate parallel transaction execution. The chain’s high-throughput infrastructure enables the finalization of peer-to-peer transactions in just 400 milliseconds and processing up to 297,000 transactions per second.
The Sui Foundation, an independent, non-profit organization promoting the Sui chain, plans to allocate a portion of its treasury into XAGm, indicating its commitment and confidence in its own product. It would stack with the institution’s undisclosed but significant SUI holdings in its reserves.
RWAs in Sui and Matrixdock
To date, there’s only one platform actively operating a tokenized product in Sui. Based on RWA.xyz data, the lone product under its wing is the Ondo US Dollar Yield (USDY), a tokenized note issued by Ondo Finance that’s secured by high-quality short-term US treasuries and bank deposits. USDY has a total asset value of $2.7 billion, distributed across more than 10 chains as of writing, with $24.26 million locked in Sui.
Meanwhile, Matrixdock currently offers two tokenized RWAs. It includes Matrixdock Short-Term Treasury Bill Token (STBT) and Matrixdock Gold (XAUm) with a combined value exceeding $124 million. The former operates solely on Ethereum (ETH), while the latter extends across BNB Chain (BNB), Solana (SOL), and Plume (PLUME), with plans to integrate Sui.
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