World Gold Council Aims for Standardization in Digital Gold Market

The World Gold Council (WGC) has presented a proposal for 'Gold as a Service,' a framework that seeks to standardize digital gold backed by physical assets. The initiative is designed to reduce costs and increase market access for new issuers, promoting an interconnected ecosystem for precious metals within the crypto environment.

Currently, the RWA (Real-World Assets) market is dominated by giants like Tether (XAUt) and Paxos (PAXG), which operate with their own closed infrastructures. The WGC's proposal intends to democratize market access by reducing high operating and custody costs that have traditionally hindered the expansion of digital gold.