Tokenized commodities look beyond gold as lending and oil open new markets
Tokenized commodities are expanding beyond gold into assets like silver and oil to provide new avenues for inventory financing and yield generation. Companies like Paxos and Theo are leveraging blockchain technology to allow investors to earn income from commodity lending, bridging the gap between physical assets and decentralized finance.
Why it matters
This trend represents a shift toward using blockchain for productive financial utility rather than just speculative trading, potentially democratizing access to institutional-grade commodity financing.
Putting commodities on blockchain networks should do more than make them easier to buy, the executives say. It could connect investors seeking exposure and income with businesses that need inventory financing, opening markets traditionally reserved for large institutions.
The starting point remains modest. Tokenized commodities’ market capitalization reached $5.55 billion at the end of March 2026, up from $1.43 billion at the beginning of 2025, according to CoinGecko. Gold-backed tokens from Paxos and Tether accounted for almost 90% of that growth.
Tokenized commodities are blockchain-based tokens that represent ownership of, or exposure to, physical assets such as gold, silver and oil.
Paxos Labs is betting that lending can unlock the next stage.
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