Finvasia Takes Stake in UGold Developer as Tokenized Gold Market Cap Hits $11.5 Billion

Finvasia has acquired a stake in Genius Digital Partners, the developer behind UGold, following months of passive support. The MOVE comes as the tokenized gold product's market capitalization surges to $11.5 billion, nearly doubling from $6 billion two and a half years ago. Daily trading volumes now exceed $100 million.

"This milestone isn't just about market cap; it's about building a product with real-world use that has stood the test of time," said Tajinder Virk, Finvasia's Co-founder. The firm plans to integrate UGold across multiple licensed platforms and expand distribution through its European, UAE, and UK networks.

UGold maintains its Gold peg through physical backing—each token represents one ounce of 99.99% pure gold, distinguishing it from algorithmic stablecoins. The project was founded by Wall Street veteran Vasilis Oxenuk, with Ilya Sorokin now serving as CEO.