Matrixdock Gold (XAUm)
BSC: can freeze a holder, mint, change the code. A single key holds the owner key. A single key can change the code with no delay.
Solana: can freeze a holder, pause transfers, claw back, mint. An account only a program can sign for can freeze a holder and claw back tokens and pause transfers.
Plume Mainnet: can freeze a holder, mint, change the code. A single key holds the owner key. A single key can change the code with no delay.
Hyperliquid L1: can mint, change the code (allowlist, freeze, pause, clawback unverified). Keys: owner 0xb573…36d7.
Sui: can freeze a holder, pause transfers, mint, change the code. A contract can freeze a holder and pause transfers. A single key can change the code with no delay.
Stellar: can freeze a holder, claw back, mint, change the code.
This file replaced an earlier version on 2026-09-30. The file listed XAUm on Stellar without a reading of who controls it: XAUm there is a Soroban contract, which Ketju could not read. This version adds that reading, so a client wallet holding XAUm on Stellar now matches this file. Earlier versions.
Subscribers see which of their clients hold this program and whether each household qualifies under these terms, and Ketju emails them when the file changes. $299 per firm per month, first 30 days free.
The verdict is on the memo: Matrixdock gold and silver (XAUm, XAGm) Not approved
Eligibility
Each answer quotes the issuer’s own words from the document named under it. Ketju reads each document again and records whether the words are still there. Where the documents say nothing, the row states that.
- What the holder owns
The terms call each token legal and beneficial ownership of one troy ounce of LBMA gold, held allocated at Malca-Amit or Brink’s or unallocated at a financial institution, with the holder the bearer of a document of title.
“Each XAUm Token represents legal and beneficial ownership of a single troy ounce of an LBMA Gold 1KG bar or an LBMA Gold Good Delivery bar”
Matrixdock: XAUm Token Terms and Conditions (last revised October 21, 2025) · Section 2.2, XAUm Token Specifications · words found 2026-09-23
- What the holder owns
The same terms say the gold is held for Matrix HK as agent for the issuer and that its value accrues to the issuer, which cuts against the ownership Section 2.2 grants.
“The Underlying Assets are maintained at the Vault Providers for the accounts of Matrix HK, and Matrix HK holds the Underlying Assets as agents for Token Issuer. Accordingly, value attributable, if any, to the Underlying Assets accrues for the benefit of Token Issuer.”
Matrixdock: XAUm Token Terms and Conditions (last revised October 21, 2025) · Section 9.1, Services; Segregation · words found 2026-09-23
- Who may hold it
The terms say only eligible persons, meaning Matrixdock or Matrixport account holders who pass its checks, may receive XAUm. Matrixdock’s docs say holding is permissionless, and the contracts enforce only a block list.
“The XAUm Token is issued by Token Issuer and is transferable solely to persons that satisfy the eligibility requirements set forth in Section 1.”
Matrixdock: XAUm Token Terms and Conditions (last revised October 21, 2025) · Section 2.1, XAUm Token Specifications · words found 2026-09-23
- Who may hold it
Matrixdock’s docs describe holding and transfer as open to anyone; only minting and redeeming need KYC.
“Holding/transfer/secondary swaps of XAUm is permissionless.”
Matrixdock docs: What is XAUm? · Transferability and Requirements · words found 2026-09-23
- First purchase minimum
$10,000 to mint with Matrixdock; 32.148 XAUm, one kilo bar, to redeem for stablecoins or gold.
“The minimum amount for directly minting with Matrixdock is $10k, while the minimum redemption into stablecoins or physical gold is 32.148 XAUm, corresponding to a 32.148 fine troy ounce (1kg) gold bar.”
Matrixdock: XAUm product page · FAQ: What is the minimum amount for the minting and redemption of XAUm? · words found 2026-09-23
- Account types
Individuals and entities; the terms bind a user acting personally or for an entity.
“These XAUm Token Terms and Conditions (“XAUm Token Terms”) form a legal agreement between the XAUm Parties and you, whether personally or on behalf of an entity”
Matrixdock: XAUm Token Terms and Conditions (last revised October 21, 2025) · Preamble · words found 2026-09-23
- Who it may be transferred to
On chain, to any address, unless the operator has put the sender on the block list; the contracts do not enforce the terms’ limit to eligible persons.
“Holding/transfer/secondary swaps of XAUm is permissionless.”
Matrixdock docs: What is XAUm? · Transferability and Requirements · words found 2026-09-23
- How a holder redeems
KYC’d customers redeem at least 32.148 XAUm for a gold bar, collected in Hong Kong or Singapore or delivered, or for stablecoins within T+3, for 0.25%.
“Redeeming XAUm for physical LBMA gold is at a minimum of 32.148 XAUm, equivalent to a 1kg gold bar.”
Matrixdock docs: XAUm Minting & Redeeming · Physical LBMA Gold Redemption Process · words found 2026-09-23
- Who keeps the official record
The chain. Matrixdock allocates each address’s balance to bars from contract events and may reallocate at any time; a holder who wants a fixed bar packs tokens into an NFT.
“XAUm tokens are dynamically allocated to gold bars.”
Matrixdock docs: What is XAUm? · Allocation Lookup · words found 2026-09-23
- What the issuer says it can freeze or take back
The operator key can block any address from sending at once on Ethereum, BSC and Plume, and one Solana key can freeze, pause, and move any balance. The terms do not mention these powers; they let Matrixdock suspend a user’s access to its services.
“The XAUm Parties may suspend, restrict or terminate your access to any or all XAUm Token Services if”
Matrixdock: XAUm Token Terms and Conditions (last revised October 21, 2025) · Section 5.1, Suspension, Termination and Cancellation · words found 2026-09-23
| Fact | Answer |
|---|---|
| Who onboards the holder | issuer |
| Voting rights | None |
| Distributions | None |
| SIPC coverage of the wallet | No |
Who controls it
Ketju read these powers from the deployed contracts and their verified source code: the token and every contract it checks on a transfer. A power listed here is something the issuer can do; it does not mean the issuer has used it.
| Chain | Freeze a holder | Pause | Claw back | Gate holders | Change the code | Keys held by |
|---|---|---|---|---|---|---|
| Ethereum | Yes | No | No | No | Yes | A single key holds the owner key. A single key can change the code with no delay. |
| BSC | Yes | No | No | No | Yes | A single key holds the owner key. A single key can change the code with no delay. |
| Solana | Yes | Yes | Yes | No | No | An account only a program can sign for can freeze a holder and claw back tokens and pause transfers. |
| Plume Mainnet | Yes | No | No | No | Yes | A single key holds the owner key. A single key can change the code with no delay. |
| Hyperliquid L1 | Unverified | Unverified | Unverified | Unverified | Yes | owner 0xb573…36d7 |
| Sui | Yes | Yes | No | No | Yes | A contract can freeze a holder and pause transfers. A single key can change the code with no delay. |
| Stellar | Yes | No | Yes | No | Yes | GBH4OGIIVUICGD6NNUNE27OWRMGCEUOJAGSD6M7H5MLBHWP23BUXILN4 via mint_to |
Who holds the keys
Ketju read every current holder of each power from the chain on 2026-09-30. A single key is one private key, and whoever holds it acts alone. A multisig needs the stated number of signers. A timelock delays every action, so holders can see it before it takes effect.
| Chain | Key | What it can do | Held by | Address |
|---|---|---|---|---|
| Ethereum | Owner | grant and revoke these powers, change the code | a single key | 0xb573…36d7 |
| BSC | Owner | grant and revoke these powers, change the code | a single key | 0xb573…36d7 |
| Solana | Mint authority | mint new tokens | an account only a program can sign for | 5aLhp9…UZoB |
| Solana | Freeze authority | freeze a holder | an account only a program can sign for | 5aLhp9…UZoB |
| Solana | Permanent delegate | claw back tokens | an account only a program can sign for | 5aLhp9…UZoB |
| Solana | Pause authority | pause transfers | an account only a program can sign for | 5aLhp9…UZoB |
| Plume Mainnet | Owner | grant and revoke these powers, change the code | a single key | 0xb573…36d7 |
| Sui | TreasuryCap | mint new tokens | a contract | 0x4f0b…97f4 |
| Sui | DenyCapV2 | freeze a holder, pause transfers | a contract | 0xa49d…6866 |
| Sui | UpgradeCap | change the code | a single key | 0x567d…6fb8 |
Ketju could not read the role holders on Stellar from the public event indexes on its last check. The table shows only what Ketju confirmed.
Ethereum: 2 contract reads, 3 functions in verified source, 2026-09-23
- eip1967.implementation=0x3194e478b6d3ebee969470295f271727b62adf7b
- owner()=0xb573c94260582f0715fc477928b04a2708dd36d7
- addToBlockedList in verified source 0x3194…df7b
- mintTo in verified source 0x3194…df7b
- etNextUpgradeToAndCall in verified source 0x3194…df7b
BSC: 2 contract reads, 3 functions in verified source, 2026-09-23
- eip1967.implementation=0x904cfe17a8b3da177f5c80b580e46439aeeeec9b
- owner()=0xb573c94260582f0715fc477928b04a2708dd36d7
- addToBlockedList in verified source 0x904c…ec9b
- mintTo in verified source 0x904c…ec9b
- etNextUpgradeToAndCall in verified source 0x904c…ec9b
Solana: 3 contract reads, 0 functions in verified source, 2026-09-23
- mintAuthority=5aLhp9VnUEKcsdtkfsf2DUgpJfomx7GmYVny24dHUZoB
- freezeAuthority=5aLhp9VnUEKcsdtkfsf2DUgpJfomx7GmYVny24dHUZoB
- permanentDelegate=5aLhp9VnUEKcsdtkfsf2DUgpJfomx7GmYVny24dHUZoB
Plume Mainnet: 2 contract reads, 3 functions in verified source, 2026-09-23
- eip1967.implementation=0x88b509db520a921bc2ff549ce528976f13b37257
- owner()=0xb573c94260582f0715fc477928b04a2708dd36d7
- addToBlockedList in verified source 0x88b5…7257
- mintTo in verified source 0x88b5…7257
- etNextUpgradeToAndCall in verified source 0x88b5…7257
Hyperliquid L1: 2 contract reads, 0 functions in verified source, 2026-09-23
- eip1967.implementation=0x8a9a4b06a570e59f107859ae1827b17e46567dac
- owner()=0xb573c94260582f0715fc477928b04a2708dd36d7
Sui: 8 contract reads, 0 functions in verified source, 2026-09-28
- publishTx=5PV7C3WKMACWfAc3LfVv9WZ6WLJN1XEGsKZFS4KpKVc8
- treasuryCap=0x9706bbcf160bd88ec7c0adf5d5d859314e562b62cacb5b9f79072cf7f3966f57
- treasuryCapOwner=0x4f0b4312b98b1f53d2a4a0f11d2ca6fb17b054d8e51778cfbf67ee6901f697f4
- denyCap=0x7d761f03cd68861832fb8313b50e3e18458c4683a7e2801c2b8db10bb4535cc1
- denyCapOwner=0xa49d48ce7191d757615fa13416e515563fef1b3c489c1b5002893859ca4b6866
- allow_global_pause=true
- upgradeCap=0xe6944b5bfef099563cd6785347ce97e0078ff518806f582b3c251c8209b569a0
- upgradeCapOwner=0x567d08ac6939ad0fbe0bdf60a3cbe97568b4becf2ca225fd665b9ad3bf0b6fb8
Stellar: 4 contract reads, 4 functions in verified source, 2026-09-30
- wasm=2f91a70d1a90673e280644e0489923858d135dab330fb5ef8e32e64029ecabdd
- owner()=GDOHHMOKYZGMNIMWZLPGEA4P6CRDJ2I73IWYTOJCUAF5XJI7ITJD6V72
- operator()=GBH4OGIIVUICGD6NNUNE27OWRMGCEUOJAGSD6M7H5MLBHWP23BUXILN4
- revoker()=GBH4OGIIVUICGD6NNUNE27OWRMGCEUOJAGSD6M7H5MLBHWP23BUXILN4
- abi:soroban:2f91a70d1a90673e280644e0489923858d135dab330fb5ef8e32e64029ecabdd#add_to_blocked_list
- abi:soroban:2f91a70d1a90673e280644e0489923858d135dab330fb5ef8e32e64029ecabdd#forced_transfer
- abi:soroban:2f91a70d1a90673e280644e0489923858d135dab330fb5ef8e32e64029ecabdd#mint_to
- abi:soroban:2f91a70d1a90673e280644e0489923858d135dab330fb5ef8e32e64029ecabdd#request_upgrade
Where it trades
| Venue | Kind |
|---|---|
| Matrixdock app (app.matrixdock.com), KYC’d accounts only | issuer primary |
| Centralized exchanges Matrixdock lists on the XAUm page, among them Bitkan, bit.com and EX.io | exchange |
| DEXs Matrixdock lists on the XAUm page: Uniswap, PancakeSwap, Raydium, Bluefin, STEAMM and others | dex |
Redemption
| Route | Settlement | Fee | Settles in |
|---|---|---|---|
| Redeem in kind | A KYC’d Matrixdock customer asks by Telegram or email, sends at least 32.148 XAUm (a 1 kg bar) plus the fee to an address Matrixdock gives, and collects the bar in Hong Kong or Singapore or takes secured delivery. The terms also allow delivery to a vault account in the customer’s name or unallocated gold to a Loco London account. Bars depend on inventory. | 25 bps | XAU (LBMA 1 kg bars), XAU (unallocated Loco London gold) |
| Redeem with the issuer in its window | A KYC’d customer redeems at least 32.148 XAUm on app.matrixdock.com for USDC or USDT at a quoted price inside a slippage limit, during trading hours of 6:00 PM to 5:00 PM the next day, New York time, on working days. Matrixdock sells the gold and sends stablecoins within T+3, less fees and any trading losses. | 25 bps | USDC, USDT |
| Secondary market only; no issuer redemption | A holder without a Matrixdock account, or with less than 32.148 XAUm, can only sell on an exchange or DEX. | USD, stablecoins |
- On Ethereum, BSC or Plume, an implementation changes or an upgrade is requested, the owner 0xb573c94260582f0715fc477928b04a2708dd36d7 or the operator and revoker 0x89bb23e4a82e04a253d9f11767fedf321c127799 changes, or the 14,400-second delay changes
- The operator adds any address to a block list, or an upgrade adds a forced transfer like the one on XAGm
- On Solana, the mint, freeze, pause, permanent-delegate or transfer-fee authority (all 5aLhp9VnUEKcsdtkfsf2DUgpJfomx7GmYVny24dHUZoB on 2026-09-23) changes, the transfer fee rises above zero, or the mint is paused
- The HyperEVM implementation 0x8a9a4b06a570e59f107859ae1827b17e46567dac is verified, so its powers can be read
- The reserve feed 0xB2624f7e72788F1EBf1C7877c646732957bbf72E changes owner or reserve without a matching vault statement, or Matrixdock-reported supply stays above the Ethereum usedReserve (13,695.048 oz against 16,491.918 XAUm on 2026-09-23)
- Matrixdock revises the XAUm terms (last revised October 21, 2025), above all Section 2.2 on ownership, Section 9.1 on who the gold’s value accrues to, or Section 1 on eligibility
- Matrixdock adds or drops a chain (the docs list Arc, which the reader cannot read; Polygon, HashKey and Tron retired 2026-08-07), or a Bureau Veritas audit is missed or finds a discrepancy
- Matrixdock starts a management fee, which the white paper says needs 30 days’ notice, or adds the United States to its prohibited list
Daily checks
Every day Ketju reads each control function in the table above and the contracts the token checks on a transfer. Ketju compares the token’s on-chain supply with yesterday’s, and its market quote with yesterday’s quote. Ketju also reads every document quoted above and reviews the file again if a quoted passage disappears from its document. Ketju counts a new, removed, or changed key as a change only when the chain’s own log shows the grant, revocation, or signer change since yesterday. If the log does not show it, Ketju updates the key list in this file and does nothing more. A change opens a review before any client action. Subscribers get an email that names each of their clients who hold the token, with the household result.
File history
Ketju has revised this file 2 times since filing it. Ketju keeps each earlier version as published, with the reason for the change.
| Date | Change |
|---|---|
| 2026-09-23 | Filed. |
| 2026-09-29 | Revised. The file listed XAUm on Sui without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file. |
| 2026-09-30 | Revised. The file listed XAUm on Stellar without a reading of who controls it: XAUm there is a Soroban contract, which Ketju could not read. This version adds that reading, so a client wallet holding XAUm on Stellar now matches this file. |
Sources
- Matrixdock: XAUm Token Terms and Conditions (last revised October 21, 2025) · primary · accessed 2026-09-23
Supports: issued by Matrix Mining Limited, legal and beneficial ownership, document of title, Matrix entities as bailee, allocated at Malca-Amit or Brink’s, or unallocated, transferable only to eligible persons, value accrues to the Token Issuer, Matrix HK holds as agent; security interest to the issuer, upgrade right, BVI law and arbitration - Matrixdock: Gold XAUm white paper (16 Sep 2024) · primary · accessed 2026-09-23
Supports: dynamic allocation to bars, NFT fixed allocation, PoR mint budget, 0.25% fees; no management fee yet, privileged operations time-locked - Matrixdock docs: What is XAUm? · primary · accessed 2026-09-23
Supports: holding and transfer permissionless, KYC to mint and redeem, purpose trust owns the issuer - Matrixdock docs: XAUm Minting & Redeeming · primary · accessed 2026-09-23
Supports: KYC, trading hours, T+3, 32.148 XAUm physical minimum - Matrixdock docs: Physical Gold Custody · primary · accessed 2026-09-23
Supports: Brink’s Singapore and Hong Kong, Appleby trustee, Hamilton enforcer, US$50M Brink’s insurance as of Nov 29 2024 - Matrixdock docs: XAUm Contract Address · primary · accessed 2026-09-23
Supports: Ethereum, BSC, Solana, Arc, Sui, HyperEVM, Stellar, Plume addresses, Polygon, HashKey, Tron retired - Matrixdock docs: Discontinuation of XAUm Support on Polygon, HashKey Chain, and Tron (August 7, 2026) · primary · accessed 2026-09-23
Supports: three chains retired, balances there not valid XAUm, current official addresses - Matrixdock: XAUm product page · primary · accessed 2026-09-23
Supports: 16,491.918 XAUm and 16,491.924 oz in 513 bars on 2026-09-23, $10k minimum mint; 32.148 XAUm minimum redemption, venue listings - Matrixdock docs: Onboard with Matrixdock · primary · accessed 2026-09-23
Supports: XAUm requires KYC only - Matrixdock docs: Prohibited Countries/Regions · primary · accessed 2026-09-23
Supports: EU member states excluded, United States not listed - Bureau Veritas: audit report SGMSG-26-00478 for Matrix Infinitus Hong Kong Limited (17 July 2026) · primary · accessed 2026-09-23
Supports: 100% audit of 508 gold kilo bars on the 30 June 2026 list, list furnished by Matrix Infinitus Hong Kong Limited - XAUm implementation on Ethereum (MTokenMain, Sourcify exact match) · primary · accessed 2026-09-23
Supports: operator block list, instant, mint and upgrade delayed, reserve-feed mint cap - XAUm reserve feed on Ethereum (FallbackReserveFeed, Sourcify exact match) · primary · accessed 2026-09-23
Supports: reserve set by the feed owner, owner 0x89bb…7799 is the token operator, 14,209.416 oz set 2026-06-08