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Wintermute Launches Institutional OTC Trading for Pax Gold and Tether Gold

The launch targets professional demand for asset-backed exposure delivered through algorithmic execution with flexible on-chain or fiat settlement.

Overview

  • Institutional clients gain access to algorithmically optimized spot execution with settlement in major cryptocurrencies, stablecoins, or traditional currencies.
  • Trading pairs include PAXG and XAUT against USDT, USDC, fiat, and major crypto assets to enable real-time hedging and collateral mobility.
  • Industry data places the on-chain gold market value near $5.4 billion by mid-February, reflecting roughly 80% growth over three months.
  • Tokenized gold logged about $126 billion in turnover in Q4 2025, exceeding the combined volume of several leading gold ETFs.
  • CEO Evgeny Gaevoy projects the tokenized gold market could approach $15 billion by the end of 2026 as institutional adoption grows.