Crypto Repackages Age-Old Jeweler Wisdom to Give Gold a Yield

Bloomberg reports that crypto firms are repackaging an age‑old jeweler technique — borrowing physical gold rather than buying it outright — into digital products that give holders a yield on gold. By tokenizing bullion and facilitating lending/lease structures familiar to goldsmiths from Dubai to India, these products could make XAUUSD more attractive to yield‑seeking investors, potentially boosting demand for physical gold and putting upside pressure on prices. The story flags operational and regulatory risks (custody, counterparty and tokenization complexity) that could limit adoption. Overall, the development is presented as a market innovation that may reframe gold from a pure store‑of‑value into an income‑producing asset, with potential implications for flows into physical gold, ETFs and crypto‑linked gold instruments.