The market cap of gold-backed tokens has surged 30-fold since the start of 2020, according to one research firm.
Gold-backed crypto tokens continue to rise in price as sourcing gold itself during the coronavirus-induced downturn is reportedly getting more difficult.
Bitfinex has launched margin trading for Tether Gold with select pairs of up to five times leverage.
For the first time, investors can trade gold-backed futures contracts on a leading crypto derivatives exchange. In addition to its spot market trading, PAX Gold is now available as perpetual and quarterly futures contracts on FTX.