Matrixdock Completes Two Years of Reserve Audits for XAUm and XAGm

Matrixdock Completes Fourth Semi-Annual Reserve Audit – Two Years of Continuous Verification for Tokenized Gold and Silver

Key Takeaways

• Matrixdock has completed its fourth consecutive semi-annual independent reserve audit with Bureau Veritas.
• The July 2026 audit covers both tokenized gold (XAUm) and tokenized silver (XAGm) for the first time.
• A total of 574 gold and silver bars were physically verified across vaults in Singapore and Hong Kong.
• Audited reserves were found consistent with circulating token supply for both XAUm and XAGm.

Fourth Consecutive Audit Extends to Silver Tokens

Matrixdock has finalized its fourth consecutive semi-annual reserve audit conducted by Bureau Veritas, marking two full years of continuous independent verification. The July 2026 audit expands its scope beyond the company’s tokenized gold product, XAUm, to include its tokenized silver product, XAGm for the first time.

According to the audit details, Bureau Veritas physically inspected and verified the underlying precious metal reserves backing both tokens. The inspection was conducted bar by bar and covered a total of 574 gold and silver bars sourced from LBMA-accredited refiners.

The audits took place across three institutional vault facilities. Malca-Amit Singapore was inspected on 3 July 2026, Brink’s Hong Kong on 8 July 2026, and Brink’s Singapore on 15 July 2026. Each bar was individually weighed and measured, and reconciled against relevant vault records. No discrepancies were identified.

Gold Reserves Match XAUm Circulating Supply

For the tokenized gold product XAUm, Bureau Veritas verified a total of 508 gold bars. The equivalent weight of the audited gold amounted to 16,331.184 troy ounces.

The circulating supply of XAUm at the time of the audit stood at 16,331.179 tokens. Distribution across networks was as follows: 11,242.657 tokens on EVM chains, 2,677.413 tokens on the Sui network, 1,575.248 tokens on the Solana network, and 771.552 tokens on the Stellar network.

Based on a gold price of USD 4,046.86 per troy ounce, the approximate market value of the audited gold reserves was USD 66.09 million. As of the audit date, the reserves were reported as consistent with the circulating XAUm token supply.

Compared to the previous audit cycle in the second half of 2025, 26 additional gold bars were added to the reserve holdings.

Silver Reserves Verified for XAGm Following Product Expansion

The July 2026 audit cycle marks the first time Matrixdock’s tokenized silver product XAGm has been included in the independent verification process.

Bureau Veritas verified 66 silver bars, representing a total equivalent weight of 65,934.000 troy ounces. The circulating supply of XAGm was reported at 65,998.551 tokens.

On the Ethereum network, 33,004.219 tokens were in circulation, while 32,990 tokens were recorded on the Sui network. The current ozPerToken value was listed as 0.999021918.

Using a silver price of USD 61.24 per troy ounce, the approximate market value of the audited silver reserves was USD 4.04 million. The audit report states that the XAGm reserves were consistent with the circulating token supply when applying the applicable ozPerToken value.

Reserve Transparency Stack and Ongoing Disclosure

Matrixdock describes its approach to backing verification as a multi-layered system referred to as the Reserve Transparency Stack. The semi-annual independent audit forms one component of this framework.

Between audit cycles, token holders can access monthly reserve asset statements. The company also provides on-chain proof-of-reserves for its precious metals products and a Gold Allocation Lookup tool. This tool maps specific gold bars to tokens, allowing holders to verify the underlying backing directly.

The combination of recurring independent audits and ongoing reporting is presented as a mechanism designed to provide continuous visibility into reserve assets rather than periodic snapshots.

Matrixdock stated that it is evaluating potential cooperation with additional global third-party service providers to strengthen asset-level verification for off-chain reserves while maintaining client-level privacy.

Implications for Tokenized Reserve Assets in On-Chain Finance

Matrixdock positions continuous reserve verification as a structural component for tokenized assets that are used as collateral, in treasury management, or in settlement processes within on-chain finance.

According to the company, long-term trust in tokenized reserve assets depends on consistent verification over time. By completing four consecutive semi-annual audits with the same independent auditor, Matrixdock has established a recurring verification process covering two full years.

The July 2026 audit report states that Bureau Veritas’ ongoing involvement provides continuity in oversight. The auditor’s repeated engagement allows for familiarity with the reserve structure and the identification of potential inconsistencies should they arise.

For users holding or evaluating tokenized precious metal assets, the audit confirms that, as of the verification dates in July 2026, the physical gold and silver reserves held in the specified vault facilities corresponded to the reported circulating token supplies.

Our Assessment

Matrixdock’s fourth consecutive semi-annual audit confirms that its tokenized gold and silver products were backed by physically verified reserves as of July 2026. The inclusion of XAGm in the audit scope expands independent verification to both major precious metal tokens issued by the company. The bar-by-bar inspection across three vault facilities and the reconciliation with circulating supply data form the documented basis for the reported reserve consistency over a two-year period of recurring audits.