BIT Hosts 'Inside the Vault' Event at Le Freeport in Singapore, XAUm Market Cap Exceeds $70 Million

BIT held the "Inside the Vault" event today in Singapore, inviting VIP guests to tour the Le Freeport vault. This vault, operational since 2010, is designed to provide storage services for high-value assets such as artworks and precious metals. BIT CEO John Ge attended and delivered a speech, emphasizing Le Freeport's stringent security and access management systems, providing guests with an opportunity to understand the high-standard vault security framework. Eva, head of BIT's RWA tokenization platform Matrixdock, introduced the gold token XAUm, which is backed by one troy ounce of physical gold with a purity of 99.99%. The gold bars are sourced from refineries on the LBMA Good Delivery list and stored in a professional vault. Holders can apply to redeem 32.148 XAUm for one kilogram of gold bars. According to data from the Matrixdock official website, XAUm was launched in September 2024, and as of the time of this publication, the total weight of physical gold reserves is 16,716.96 troy ounces, approximately 520 kilograms, involving 520 gold bars, with a total market value of about $70.43 million.

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