Gold-Pegged Stablecoins Indicate Merging of Traditional Finance and Blockchain Openness

At the Token2049 event in Singapore, gold-backed stablecoins gained significant attention, particularly with Streamex Corp.'s

emerging as a focal point. The Nasdaq-listed company, which specializes in commodity tokenization, has joined forces with to incorporate its Proof of Reserve, Price Feeds, and Cross-Chain Interoperability Protocol (CCIP) into GLDY. This partnership is designed to deliver institutional-level transparency, allowing for instant verification of GLDY’s gold holdings and enabling secure transfers between networks such as Base and , as detailed in a . Chainlink’s involvement in this project is part of its broader push into tokenized finance, following similar collaborations with Backed Finance and Crypto Finance for real-world asset (RWA) validation.

This alliance illustrates the increasing use of blockchain by institutions to connect traditional finance (TradFi) with decentralized platforms. Leveraging Chainlink’s CCIP, GLDY is now transferable across several blockchains, addressing longstanding issues of liquidity and interoperability that have limited tokenized assets. Experts suggest that such advancements could speed up the mainstream adoption of RWA tokenization, especially as institutional interest in transparent, asset-backed digital tokens grows.

On the regulatory front, global policy changes are influencing the stablecoin sector. Canada is reportedly drafting new stablecoin regulations ahead of its federal budget, possibly mirroring the U.S. GENIUS Act, which requires dollar-backed stablecoins to be fully collateralized and audited, according to a

. The Bank of Canada has called on lawmakers to create clearer rules to update payment systems and reduce risks, reflecting a worldwide movement toward regulatory certainty as the stablecoin market grows.

In another notable development, Kyrgyzstan has introduced its first national stablecoin, KGST, pegged to the Kyrgyz som at a 1:1 ratio, alongside a pilot for a central bank digital currency (CBDC). Created in collaboration with Binance, this marks one of the earliest cases of a government-backed stablecoin running on a private blockchain (BNB Chain), according to a

. Since May, Binance founder Changpeng Zhao (CZ) has been advising Kyrgyzstan’s authorities, highlighting the initiative’s potential to enhance financial inclusion and attract fintech investment. By launching both a stablecoin and a CBDC, Kyrgyzstan is positioning itself as a crypto leader in the region, with plans to use the digital som for government payments and to broaden KGST’s reach internationally, reported.

These trends point to a global merging of stablecoins and CBDCs. More than 100 nations are investigating digital currencies, and stablecoin market value has exceeded $170 billion, fueled by the need for faster cross-border transactions and institutional-grade digital assets. Yet, obstacles such as regulatory adherence and user acceptance persist. For example, Kyrgyzstan’s A5A7 stablecoin was recently sanctioned over allegations of facilitating illegal financial activities, highlighting the importance of strong regulatory oversight.

As the digital asset industry matures, collaborations like Streamex’s with Chainlink and Kyrgyzstan’s national project indicate a move toward hybrid systems that combine blockchain efficiency with established financial protections. With both regulators and institutions increasingly focused on transparency and interoperability, the trajectory of stablecoins will likely depend on their capacity to meet these evolving requirements.