Dogecoin Gold? A DOGE-Themed Company Is Joining the Tokenized Gold Rush

In brief

• Dogecoin Cash Inc. proposed a framework where one billion tokens would equal one gram of physical gold.
• The initiative remains in the development phase with no tokens issued or timeline set.
• Tether and Paxos both offer gold-backed tokens denominated in ounces, with market caps over $2 billion apiece.

Dogecoin Cash Inc. announced Thursday it is developing Dogecoin Gold, a planned token that would link digital assets to physical gold reserves while borrowing the name of the most valuable and longest-running meme coin on the market. The framework proposes tokens representing precisely defined units of gold held by an independent, institutional-grade precious metals custodian. Under the proposed system, tokens would be created only when gold enters custody and removed from circulation upon verified redemption. “We are evaluating a framework that seeks to integrate verifiable ownership of physical gold with blockchain-based auditability and precision,” management wrote in a statement. “The objective is to determine whether a system can be structured in which real-world assets, mathematically defined units, and transparent digital infrastructure operate within a disciplined and verifiable environment.” 

While full technical documentation is still forthcoming, the firm said it plans to tokenize gold with nanogram-level precision that would allow one billion tokens to represent one gram of physical gold. Tokenized gold isn’t a new concept, though the biggest firms doing it today—Tether with its $2.7 billion XAUT token, and Paxos with its nearly $2.4 billion PAX Gold (PAXG)—measure their tokens in ounces pegged to the price of real gold. Such tokens have surged in value and demand in recent months as gold rose to new all-time highs. Decrypt reached out to Dogecoin Cash for more information on its tokenized gold plans, but did not immediately receive a response. Dogecoin (DOGE) is the original and still most valuable meme coin with a more than $15 billion market cap. The company Dogecoin Cash has no formal affiliation with the creation of Dogecoin or upkeep of the protocol, though it has amassed both DOGE and knockoff coins alike.

Dogecoin Cash was previously known as Cannabis Sativa Inc, with a focus on telehealth services and cannabis products, before renaming itself in late 2024. The company initially amassed a treasury of the BNB Chain meme coin Dogecoin Cash (DOG) before saying last summer that it would also maintain a separate treasury of the original Dogecoin. The real DOGE is up 5% on Friday amid a broader markets surge sparked by the reopening of the Strait of Hormuz, recently trading above $0.10—its highest price in a month.