Sui adds trading support for silver token

Layer-1 blockchain Sui said it will support trading for Matrixdock’s XAGm token, a digital asset backed one-for-one by physical silver certified under London Bullion Market Association standards.

The XAGm token, issued by Singapore-based real-world asset platform Matrixdock, represents ownership of one troy ounce of LBMA-approved silver stored in audited vaults.

Matrixdock said the integration aims to combine traditional precious metals exposure with decentralised finance infrastructure by allowing users to trade and transfer tokenised silver onchain.

The listing gives XAGm access to Sui’s low-cost and high-speed blockchain network while expanding the platform’s exposure to the rapidly growing tokenised real-world asset market.

Matrixdock previously launched XAUm, a gold-backed token used within decentralised finance ecosystems as asset-backed collateral, with XAGm positioned as a silver-based alternative for portfolio diversification.

The London Bullion Market Association standard is widely recognised across global bullion markets and is commonly used by refineries, banks and institutional trading desks to verify precious metals quality and authenticity.

Sui said institutional-grade tokenised assets could strengthen decentralised finance adoption, although the long-term success of products such as XAGm will depend on transparent reserve audits, regulatory clarity and smart contract security.

At the time of reporting, Sui price was $1.26.