BIT hosts Le Freeport vault visit in Singapore as XAUm market cap tops $70 million
BIT, formerly Matrixport, held an "Inside the Vault" event in Singapore and invited VIP guests to tour the Le Freeport vault near Changi Airport. The facility, which opened in 2010, provides professional storage for high-value assets including art and precious metals. During the event, BIT CEO John Ge said Le Freeport is rarely open to the public and highlighted its strict security and access controls, giving attendees a close look at how high-security vault operations and physical gold storage work. Eva, head of BIT-owned RWA tokenization platform Matrixdock, introduced XAUm, the platform’s gold token. She said each XAUm token is backed 1:1 by one troy ounce of 99.99% pure physical gold. The bars come from refiners on the London Bullion Market Association Good Delivery list and are stored in professional vaults in Asia. Holders can apply to redeem 32.148 XAUm for a 1-kilogram gold bar. According to Matrixdock’s website, XAUm launched in September 2024. As of publication, it represented 16,716.96 troy ounces of physical gold reserves, or about 520 kilograms across 520 gold bars, with a total market value of about $70.43 million. Sui Foundation and Stellar Development Foundation have previously announced allocations to XAUm.
