Tokenized gold market at $4.4B in 2025 (177% growth). Leaders: xAUt ($2.1B cap, multi-chain, Swiss/El Salvador regs, 0.25% fees), PAXG ($1.8B cap, Ethereum-only, U.S. oversight, zero fees), VNXAU ($4M cap, multi-chain, Liechtenstein regs, 2.5% fees). Enable 24/7 trading, fractional ownership, DeFi.

TLDR by @Sagix

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