Longtime gold advocate Peter Schiff is stepping into the world of digital assets with plans to launch a tokenized gold product.
“You’ll be able to buy gold on an app through your phone,” Schiff explained. “The gold will be stored in a vault, and then you will be able to effortlessly transfer ownership of gold to people you know or redeem it for physical gold.”
Tokenized gold is not a new idea, but Schiff’s entry adds credibility to a growing sector that merges real-world assets with digital efficiency. Each token represents a fixed amount of gold stored in a secure vault, and ownership is recorded on a blockchain. This system allows for fractional ownership, meaning users can purchase small amounts of gold—something that was previously difficult.
Recent data from CoinGecko indicate that tokenized gold markets have reached a total capitalization of over $1 billion. This is led by products like Tether Gold (XAUT) and Pax Gold (PAXG). These tokens have become popular among investors who want the reliability of gold with the transfer speed of digital assets.
A real-world example of this model is Pax Gold, where each token equals one ounce of gold held in London vaults. Users can redeem tokens for physical bars or trade them instantly online. Schiff’s upcoming app seems to follow a similar idea but with his personal brand of trust and transparency built in.
Binance founder Changpeng Zhao (CZ) shared a cautious take on Peter Schiff’s upcoming tokenized gold project, emphasizing the difference between on-chain assets and off-chain promises. CZ explained that tokenized gold doesn’t actually place physical gold on the blockchain but instead represents a claim to gold held by a third party.
He warned that this system relies on trust—trust that the custodian will still honor redemptions years later, even through management changes or global crises. Calling it a “trust me, bro” token, CZ noted that this dependence on intermediaries is why gold-backed digital tokens have struggled to gain lasting traction in the crypto world.
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Peter Schiff reveals he will be launching a tokenized gold product "You'll be able to buy gold on an app through your phone, the gold will be stored in a vault and then you will be able to effortlessly transfer ownership of gold to people you know or redeem it for physical gold"
Saying the obvious. Most people “in crypto” know this, most people “not in crypto” may not understand yet. Tokenizing gold is NOT “on chain” gold. It’s tokenizing that you trust some third party will give you gold at some later date, even after their management changes, maybe Show more
Peter Schiff reveals he will be launching a tokenized gold product "You'll be able to buy gold on an app through your phone, the gold will be stored in a vault and then you will be able to effortlessly transfer ownership of gold to people you know or redeem it for physical gold"
