tGLD, issued by Tenbin AssetCo (BVI) SPC Ltd., is a tokenized commodity instrument structured as unsecured debt that provides onchain economic exposure to the market value of spot gold without conferring ownership of any underlying physical metal or hedge position [S1][S2].

Each token is a price-tracker referencing one troy ounce of spot gold, maintained delta-neutral through an offchain hedging engine that holds CME futures positions as margin while onchain stablecoin collateral is deployed into ERC4626 vaults, typically Steakhouse USDC on Morpho V2 [S2][S3][S4]. The base token is static, not yield-bearing or rebasing; yield is optional and earned only by staking into a vault [S2][S5]. Minting and redemption are effectively fee-free, subject only to a Conditional Market Adjustment Fee in stressed hedge conditions [S6][S3].

Tokens are issued through Tenbin AssetCo (BVI) SPC Ltd., a British Virgin Islands segregated portfolio company using a bankruptcy-remote framework that isolates each portfolio's backing assets from Tenbin Labs' operating activities [S1][S7]. Each token is a direct, unconditional, unsubordinated, unsecured debt obligation of the relevant issuer portfolio, characterized as a debenture, and is not a bank deposit, stablecoin, money market instrument, fund interest, or insured [S1][S8]. Direct minting and redemption require onboarding, wallet screening, KYC and KYB, and jurisdictional eligibility; tokens are unavailable to U.S. persons and a broad list of excluded jurisdictions [S9][S10]. Approved users redeem atomically via the Controller contract, settling onchain in stablecoins [S2][S11].

tGLD is an EVM token consistent with ERC-20 standards, deployed solely on Ethereum, with staking using a custom ERC4626 vault [S9][S12][S5]. The Controller contract processes minting and redemption against supported stablecoin collateral, settling atomically onchain, with EIP-712 signed orders and an Oracle Adapter price backstop [S11][S2]. Reserve information is published via a Transparency Dashboard [S13].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://docs.tenbinlabs.xyz/legal-and-transparency/legal-and-regulatory.md" },
    { id: "S2", url: "https://docs.tenbinlabs.xyz/product/what-is-a-tenbin-asset.md" },
    { id: "S3", url: "https://docs.tenbinlabs.xyz/solution-overview/protocol-revenue.md" },
    { id: "S4", url: "https://docs.tenbinlabs.xyz/solution-overview/collateral-manager.md" },
    { id: "S5", url: "https://docs.tenbinlabs.xyz/solution-overview/staking.md" },
    { id: "S6", url: "https://docs.tenbinlabs.xyz/hedging-and-risk/peg-mechanism/conditional-market-adjustment-fee.md" },
    { id: "S7", url: "https://docs.tenbinlabs.xyz/legal-and-transparency/trust-and-transparency.md" },
    { id: "S8", url: "https://docs.tenbinlabs.xyz/resources/general-disclosure.md" },
    { id: "S9", url: "https://docs.tenbinlabs.xyz/tenbin-overview/what-is-tenbin.md" },
    { id: "S10", url: "https://docs.tenbinlabs.xyz/legal-and-transparency/geographic-restrictions.md" },
    { id: "S11", url: "https://docs.tenbinlabs.xyz/solution-overview/minting-and-redemption.md" },
    { id: "S12", url: "https://docs.tenbinlabs.xyz/solution-overview/core-addresses.md" },
    { id: "S13", url: "https://docs.tenbinlabs.xyz/hedging-and-risk/proof-of-reserves.md" },
  ]}
/>


Tokenized commodities

Tenbin issues liquid, composable asset tokens (e.g., Tenbin Gold) that reference underlying market exposure through a mix of off-chain hedging and on-chain settlement; staked variants accrue yield.

Tenbin is an on-chain asset tokenization protocol that brings liquid real-world assets — precious metals, yield-bearing currencies, and other commodities — on-chain for use in DeFi. It combines on-chain settlement with off-chain hedging, pricing, and yield-generation infrastructure.

Tenbin Labs builds and operates the Tenbin tokenization protocol.

website

twitter

Real-world asset (RWA) issuers

Tenbin Labs

Tenbin Gold (tGLD) is a token tracking gold, backed by dedicated collateral, issued by Tenbin Labs through Tenbin AssetCo (BVI) SPC Ltd.

Each token tracks one troy ounce of gold and is a collateral-backed contractual exposure rather than a direct claim on the issuer.

The backing metal is held in vaults on a segregated basis.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can mint and redeem directly with Tenbin Labs after completing KYC, and holders have a contractual right to redeem for the metal's cash value, with instant settlement.

Tenbin AssetCo (BVI) SPC Ltd. is incorporated in the British Virgin Islands.

Holder terms are governed by the law of Delaware in the United States, with disputes heard in the British Virgin Islands.

tGLD has been issued on Ethereum as an ERC-20 token since February 2026.

Tenbin GoldtGLD

All metrics