India's Commodity Wealth Gets a Blockchain Boost

India's vast commodity wealth is largely untapped due to inefficient storage and transfer systems. Tokenisation, a process of representing ownership of real assets like gold or wheat as digital tokens on a blockchain, can address this issue.

The VDA industry has been driving the growth of tokenised commodities globally, with a monthly transfer volume of $7.12 billion across 3.2 lakh holders and over 40 tracked products.

Gold-backed tokens dominate the market, with Paxos Gold and Tether Gold together accounting for nearly three-quarters of the market share. These tokens are backed by verifiable claims on real gold held in audited vaults and are redeemable through the issuer.