Singapore's OCBC launches spot gold-backed tokenized fund

Major Singaporean financial services firm OCBC has launched a tokenized fund backed by physical gold, according to Cointelegraph. Developed in collaboration with its asset management subsidiary, Lion Global Investors, the fund's underlying token, GOLDX, is issued on the Ethereum and Solana blockchains. The fund is targeted at institutional investors, hedge funds, and asset managers, and can be traded using both stablecoins and fiat currencies.