Tokenised Commodities evaluated across vault and independent verifier, whether you can open the latest reserve report right now, the smallest amount an ordinary holder can turn back into metal, and round-trip cost with spread.
Matrixdock Gold (XAUm)
#1 of 7 · published ranking
Matrixdock Gold (XAUm)
80ChainChoice Score
4199
Why it leads
Best in the pool on vault and verifier (10/10; next 8/10)
Cost
Not priced· No comparable price is published
No provider can pay for a position in this table. The code that computes this order cannot read which links earn us a commission, and every build proves it. Every score below rebuilds from the published criteria.Ranking 2026.08 · 4 criteria · 7 products · same inputs, same order
Personal comparison
Tokenised Commodities ranked comparison
No comparable price is published; ranking still uses verified product evidence.
RankProviderBest fitScore
1
Matrixdock Gold (XAUm)Matrixdock Gold (XAUm)One token per fine troy ounce of 99.99%...Top ranked
Vault and independent verifier — 10/10Trade-off: The strongest physical proof in the category sits on the weakest regulatory footing o...
Commission: This provider pays ChainChoice nothing for this link. Disclosure
Crypto products are high risk. Check the provider is authorised where you live before you deposit.
2
KIKinesis Gold (KAU)One token per gram of allocated gold ac...
The smallest amount an ordinary holder can turn back into metal — 9/10Trade-off: The vaulting network that makes 0% storage possible belongs to Allocated Bullion Exch...
Commission: This provider pays ChainChoice nothing for this link. Disclosure
Crypto products are high risk. Check the provider is authorised where you live before you deposit.
4
Tether Gold (XAU₮)Tether Gold (XAU₮)One token per fine troy ounce of London...
Whether you can open the latest reserve report right now — 8/10Trade-off: You are trusting an unnamed vault operated by a related party that the issuer says it...
Commission: This provider pays ChainChoice nothing for this link. Disclosure
Crypto products are high risk. Check the provider is authorised where you live before you deposit.
6
COComTech Gold (CGO)One XRC-20 token per gram of 999.9 gold...
The smallest amount an ordinary holder can turn back into metal — 5/10Trade-off: The token's original website is a maintenance stub. comtechgold.com serves an empty H...
Commission: This provider pays ChainChoice nothing for this link. Disclosure
Crypto products are high risk. Check the provider is authorised where you live before you deposit.
1 more assessed and ranked below — none of them hidden for commercial reasons.
Ranking blindCommercial terms excludedDated primary sourcesCrypto products are high risk. Check the provider is authorised where you live before you deposit.
Ranked on 4 published criteria weighted 30/22/26/22, which set goal alignment — 30 of the 86 points. The rest: regional access 20, evidence depth 18, ease of use 10, institutional trust 8. Profile match is shown in breakdowns but carries no weight.
Audit
Infrastructure
Methodology
2026.09.15
published 2026-09-16
Providers tracked
980+
across 119 categories
Last verified
2026-09-27
newest dated pricing or sentiment read
Named on the roster
2 people
managing directors · 6 automated processes
Decision guide
What matters most before choosing in this category
Weighted on who holds the metal and who actually looked at it (30), the smallest amount an ordinary holder can turn back into metal (26), whether you can open the latest reserve report right now (22), and what a round trip really costs once fees and spread are counted (22). Every product here is redeemable for gold. At the two a buyer is most likely to hear about, redemption starts at 430 tokens — $1,824,008 of PAXG and $1,818,560 of XAU₮ at the spot reading taken on 2026-08-06. Kinesis, on about one eighty-seventh of their combined daily volume, is the only provider in this pool whose published floor is reachable by an ordinary buyer: 100 grams for 0.45% plus $100 plus delivery.
What matters most before choosing in this category
Weighted on who holds the metal and who actually looked at it (30), the smallest amount an ordinary holder can turn back into metal (26), whether you can open the latest reserve report right now (22), and what a round trip really costs once fees and spread are counted (22). Every product here is redeemable for gold. At the two a buyer is most likely to hear about, redemption starts at 430 tokens — $1,824,008 of PAXG and $1,818,560 of XAU₮ at the spot reading taken on 2026-08-06. Kinesis, on about one eighty-seventh of their combined daily volume, is the only provider in this pool whose published floor is reachable by an ordinary buyer: 100 grams for 0.45% plus $100 plus delivery.
Who holds the metal, and has anyone independent actually weighed it?
What is the smallest amount you can redeem — and could you afford it?
Can you open the latest reserve report right now, without a fee or an appointment?
Current editor lead
Expert review and scoring weights
Matrixdock Gold (XAUm)
Matrixdock Gold (XAUm)Data checked Sep 2026
One token per fine troy ounce of 99.99% LBMA gold in Brink's and Malca-Amit vaults in Hong Kong and Singapore, with every bar physically counted twice a year.
One token per fine troy ounce of 99.99% LBMA gold in Brink's and Malca-Amit vaults in Hong Kong and Singapore, with every bar physically counted twice a year. Strongest on vault and independent verifier (10/10): Bureau Veritas's July 2026 certificate records a 100% audit of the 508 kilo bars backing XAUm at Brink's Hong Kong, Brink's Singapore and Malca-Amit Singapore, with every bar weighed and measured and no anomalies found. Weakest on the smallest amount an ordinary holder can turn back into metal (6/10): Physical redemption starts at 32.148 XAUm, a one-kilogram bar worth about $137,600, requested by message and collected in Hong Kong or Singapore. Matrixdock does not serve EU member states, and Hong Kong residents cannot use the service. Published price: Matrixdock XAUm page (www.matrixdock.com/xaum), fetched 2026-09-27. FAQ: "There is no management fee for XAUm in both ERC-20/BEP-20 and NFT forms. Mint fee is waived before XAUm TVL reaches $100M.
Best forVault and independent verifier — 10/10
Main tradeoffThe strongest physical proof in the category sits on the weakest regulatory footing of the credible names. The docs page headed "Licenses and Certificates" lists exactly one item, and its fields read, line by line: "Hong Kong Customs and Exercise Department" (the page's own spelling), "MATRIX INFINITUS (HONG KONG) LIMITED", "Category A Registration No:", "A-B-25-03-08852", with a downloadable "Certificate of Registration for Category A Registrant.pdf" — a dealers-in-precious-metals registration, not a financial-services licence. The XAUm page also markets "XAUm offers physical redemption options in Hong Kong and Singapore, providing direct access to gold within Asia’s leading financial and bullion hubs" while the same page's own alert copy reads "Access from Hong Kong detected. Hong Kong is one of our restricted jurisdictions. XAUm and related services are not offered to persons residing in Hong Kong."
Verify before signupMatrixdock XAUm page (www.matrixdock.com/xaum), fetched 2026-09-27. FAQ: "There is no management fee for XAUm in both ERC-20/BEP-20 and NFT forms. Mint fee is waived before XAUm TVL reaches $100M. A redemption fee of 0.25% is applicable." And: "The minimum amount for directly minting with Matrixdock is $10k, while the minimum redemption into stablecoins or physical gold is 32.148 XAUm, corresponding to a 32.148 fine troy ounce (1kg) gold bar." The page's primary quotes at fetch time: "Mint Price $ 4,304.66" and "Redeem Price $ 4,271.11", beside "Market Cap $70.99M", "Total Supply 16,491.918 XAUm", "Total Bullion Weight 16,491.924 Troy Oz." and "No. of Gold Bars 513". The page adds "Real-time price quote is available in the mint/redeem web-app." Supply is still under the waiver threshold, so minting stays fee-free; the spread between the two quotes is the real primary cost.
Methodology
How this category is reviewed
Reviewed on vault and independent verifier, whether you can open the latest reserve report right now, the smallest amount an ordinary holder can turn back into metal, and round-trip cost with spread.
The order on this page is the published ranking for this category. Every criterion, weight and source behind it is on the methodology page.
Frequently asked
Questions people ask before choosing tokenised commodities
Who actually holds the gold, and who checks that it is there?
It varies more than the category's shared vocabulary suggests, and the largest product is the least specific. Tether Gold's Gold Token Risk Disclosure Statement, read 2026-08-06, states that "the Custodian is a related party to Tether Gold" and that "Tether Gold does not undertake to and has no legal obligation to monitor the performance of and safe keeping of Gold Reserves by the Custodian." The custodian is never named on the site — the definition reads "“Custodian” means the custodian(s) of the Gold Reserves". At Kinesis the audit pack shows the overlap on facing pages: page 1 is signed "Thomas Coughlin / CEO, Kinesis Money" and page 2, the inventory letter from the vaulting partner, is signed "Thomas Coughlin / CEO, Allocated Bullion Exchange". The Bureau Veritas certificate behind it is genuinely independent; the inventory it was handed came from the same person who commissioned it.
What is the smallest amount I can redeem for physical metal?
This is the number that separates the pool, and it is rarely on the marketing page. PAXG and XAU₮ both require 430 tokens before a single bar moves — $1,824,008 and $1,818,560 at the gold price read on 2026-08-06 — with Tether Gold's delivery confined to Switzerland and Paxos leaving delivery arrangements to the holder. Kinesis publishes 100 grams at 0.45% plus $100 plus delivery. Matrixdock advertises "physical redemption options in Hong Kong and Singapore" on a page whose own alert strings read "Hong Kong is one of our restricted jurisdictions." VNX is contradictory across its own domains: vnx.li says "You can always collect your LMBA certified gold directly from the vault", while vnx.io's onboarding step three offers only "the cash value of the underlying gold", and no minimum, fee or process for physical delivery is published on either.
Does "audited" mean what it sounds like in this category?
Usually not, and the documents say so themselves. VNX files under "Reserves Audit Reports" a document stating "This Agreed-Upon Procedures engagement is not a reasonable or limited assurance engagement. Accordingly, we do not express an opinion or an assurance conclusion", whose auditor confirms "our procedures did not include the observation of gold held by these custodian(s)". Kinesis's Bureau Veritas certificate covers "a sample of over 5.0% of the total weight" and finds "no non-conformities concerning the items that were weighed" — the other 95% rests on reconciliation. ComTech's transparency panel offers "Quarterly audits by Custodian based in UAE" and "On-demand verification for an onboarded entity" that is "Subject to Service fees applicable and prior appointment is required". Paxos's own knowledge base still names Withum as the auditor while its transparency page says reports since February 2025 are issued by KPMG LLP.
Not financial advice · For informational purposes only · Always do your own research
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