Circle launches tokenized gold and silver swaps via USDC as metals hit all-time highs

Key Takeaways

• Circle introduces GLDC and SILC, allowing users to swap USDC for tokenized gold and silver 24/7 with deep COMEX-based liquidity.
• Gold and silver have both hit record highs in December, gaining over 70% and 140% year to date, respectively.

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Circle announced today that it has entered the tokenized commodities market with the launch of GLDC and SILC, two new digital assets representing tokenized exposure to gold and silver.

The offering allows users to instantly swap USDC for tokenized gold or silver at real-time prices, backed by liquidity modeled on COMEX reference markets.

Tokens are issued and settled on-chain, with integration into wallets, DeFi apps, and institutional trading platforms.

“USDC was built to be trusted, transparent digital cash for the internet economy,” said Circle CEO Jeremy Allaire. “With GLDC and SILC, we’re extending that trust to gold and silver while preserving the speed, accessibility, and composability developers and institutions expect from USDC.”

Circle’s expansion comes amid surging interest in precious metals. Gold reached a record high above $4,500 yesterday, now up more than 70% year to date, while silver jumped above $72 this week, capping a 140% rally in 2025.

Analysts attribute the momentum to expectations of looser monetary policy in 2026, with markets currently pricing in at least two rate cuts next year.

Circle said tokenized commodities are a natural evolution of capital markets and that bringing gold and silver into the same real-time, programmable environment as USDC unlocks new use cases in treasury, settlement, and risk diversification.