Gold has traditionally been associated with physical ownership, secure vaults and long-term wealth preservation. However, blockchain technology is changing how investors access and transfer traditional assets. XAUH, a gold-backed digital token issued by Panama-based Herculis Tokens SA, is attempting to bring physical gold into the everyday digital economy.
Each XAUH token represents one gram of 999.9-fineness physical gold held in Switzerland. Built as an asset-backed payment token, it combines exposure to physical bullion with blockchain-based transferability. The project's broader ambition is to make gold accessible to smaller investors through familiar digital platforms, including Telegram.
XAUH Digital Gold: Bringing Physical Gold to Telegram Users
XAUH is the first gold-backed token launched by the tokenization arm of Herculis Group, a Swiss investment boutique established in 2009. Its issuing entity, Herculis Tokens SA, focuses on structuring and tokenizing real-world assets (RWAs).
Introduced in 2025, XAUH was originally developed on the JAMTON.NETWORK protocol. The idea emerged from the founder's interest in gold tokenization, which initially began during the 2016 ICO boom. However, the project gained momentum in late 2024 after discussions with the team behind Jamton.
The collaboration offered access to TON and Polkadot ecosystems, along with an opportunity to reach Telegram's large global user base. With millions of users already familiar with cryptocurrency wallets, Telegram presented a potential distribution channel for making tokenized gold more accessible.
Unlike traditional bullion products that may require significant upfront investment, XAUH aims to reach smaller savers, particularly individuals in emerging markets looking for alternatives to local-currency savings.
The project's distribution strategy includes Telegram's AdsGram network and educational content designed for TON wallet users. Its long-term vision extends beyond simply purchasing gold, with plans to support a broader financial ecosystem where users can buy, earn, borrow and spend.
Those interested in the project's gold-backed digital asset model can learn more through the official XAUH website.
XAUH Coin: The Business Behind the Digital Asset
XAUH operates within a group structure that Herculis describes as deliberately conservative. Six entities cover different business functions, including asset management, fiduciary administration, gold trading, vaulting and tokenization.
According to the company, its experience in physical bullion operations provides an important foundation for its digital asset offering. Its gold trading and vaulting activities reportedly predate the token by more than a decade.
The company also identifies three custodians responsible for holding bullion: Herculis House, Brink's and Loomis. These arrangements are intended to provide additional separation between the token issuer and the physical assets backing the token.
Insurance and custody arrangements are also central to the company's operating model. Herculis argues that combining traditional bullion infrastructure with blockchain technology can help address some of the trust concerns associated with digital assets.
XAUH RWA: How One Gram of Gold Becomes One Token
The central feature of XAUH is its one-to-one relationship with physical gold.
Each token represents one gram of Swiss LBMA 999.9 fine gold. It can also be divided into smaller units of 0.01 gram, allowing users to access fractional gold ownership without purchasing a traditional bullion bar.
Physical redemption is available starting from 500 XAUH, equivalent to 500 grams of gold.
The company identifies four important components of its reserve structure:
● Gold Refining: Bullion is refined by PX Precinox SA, an LBMA-listed Swiss refinery.
● Custody Infrastructure: Gold reserves are distributed across Herculis House, Brink's and Loomis.
● Insurance: Holdings are insured at fair-market value.
● Proof of Reserves: On-chain reserve information is made available through Chainlink and can be checked through the XAUH website.
This combination of physical custody and blockchain-based verification is intended to make the token's underlying gold easier to monitor.
XAUH Gold: Why Independent Verification Matters
For any gold-backed digital asset, the existence of physical reserves is one of the most important factors affecting investor confidence.
Herculis engaged KPMG SA in Switzerland to perform agreed-upon procedures under Swiss Auditing Standard 920. According to its report dated August 28, 2026, KPMG physically compared bullion with 18 PX Precinox certificates, matched selected bar and certificate serial numbers, and reported the presence of 15.5 kilograms of gold.
The reported reserve figure also corresponded with market data published by CoinGecko in September 2026. At that time, the platform reported a circulating and total supply of 15,500 XAUH, equivalent to 15.5 kilograms under the one-token-per-gram structure.
However, token supply and market information can change, making it important for users to consult current market data and reserve disclosures.
Regulatory classification is another important consideration. Herculis states that XAUH is an asset-backed payment token rather than a security under Swiss or Panamanian law. It also states that Herculis Tokens SA is reportable to Panama's Financial Analysis Unit (UAF). These represent the issuer's stated legal position and should not be interpreted as an independent regulatory determination.
Herculis Gold Coin: Understanding Fees and Redemption
Accessibility is not determined by the purchase price alone. Transaction costs, redemption requirements and custody arrangements also influence whether a tokenized asset is practical for everyday users.
Herculis has published the following fee structure for XAUH:
● Tokenization of existing LBMA bullion: 0.3%.
● Transfers on the Jamton protocol: 0.02% per transaction.
● Redemption of one kilogram or more: 1%, plus transportation costs.
● Redemption at the minimum 500-gram threshold: 3%, plus transportation costs.
● Recurring custody and storage fees: None once tokens are minted.
The redemption structure is particularly relevant for investors who want the option of converting digital holdings into physical bullion.
XAUH is also available across multiple blockchain networks and trading venues. CoinGecko identifies token contracts on Ethereum, TRON and TON.
The token trades on centralized exchanges BTSE and Biconomy.com, alongside decentralized platforms such as STON.fi on TON and Uniswap V2 on Ethereum. Fiat and stablecoin on-ramps are available through Wert.io.
Herculis has also outlined plans to collaborate with Frankencoin, a Swiss franc stablecoin, and Morpho, a decentralized lending platform. These partnerships could expand the token's potential role within decentralized finance.
XAUH Token: Expanding Beyond Gold Into Other Real-World Assets
For Herculis, XAUH is intended to be the beginning of a broader real-world asset tokenization strategy.
The company's roadmap includes potential tokenization of silver and fine art already held in Herculis vaults. The founder describes silver as "gold for the poor," highlighting its potential to appeal to buyers who want exposure to precious metals at a lower price point.
The strategy is to reuse the existing infrastructure for custody, insurance and verification rather than build separate systems for every asset category.
This approach reflects a wider shift in financial markets. Major institutions, including BlackRock and JPMorgan, have shown growing interest in tokenized real-world assets, bringing greater attention to blockchain-based representations of traditional financial and physical assets.
For Herculis, tokenized gold could provide an accessible entry point for people who are new to digital finance. Unlike more complex financial products, gold is already familiar to consumers across different markets.
The Future of Tokenized Gold and Digital Ownership
The growth of tokenized assets will depend on more than blockchain technology. Investors will also consider the quality of underlying reserves, transparency of custody arrangements, redemption terms, regulatory clarity and the reliability of trading infrastructure.
XAUH represents one approach to combining established bullion operations with digital asset distribution. By connecting physical gold held in Switzerland with blockchain networks and Telegram's user ecosystem, Herculis is attempting to make gold ownership more flexible and accessible.
Whether this model achieves wider adoption will depend on its ability to maintain reserve transparency, deliver reliable redemption and build user confidence over time.
As the real-world asset sector continues to evolve, projects such as XAUH highlight how traditional assets may find new forms of ownership and distribution in an increasingly digital financial landscape.
This story was distributed as a release by Sanya Kapoor under
