DGLD, the Swiss Gold Token From MKS PAMP, Goes Live on Solana via SwissBorg With Arrakis Liquidity

Gold Token SA, the tokenisation arm of Swiss precious-metals refiner MKS PAMP, opened its gold token DGLD to the public on Solana SOL$119.91-1.7% on 5 October 2026. The company announced the launch alongside two partners. SwissBorg BORG$0.173-3.1%, the Swiss crypto app, listed DGLD the same day, and liquidity manager Arrakis Finance used the launch to begin operating on Solana.

DGLD already exists on Ethereum and Base. Gold Token SA says the Solana version is issued natively under the Token-2022 standard, with no bridge or wrapped asset involved. The Solana token itself is older than the announcement: Solana Compass's token index records the mint's creation on 28 July 2026, and Gold Token SA's audits page lists Solana contract audits by Halborn and Adevar dated July 2026. What happened on 5 October is the public opening, with a retail app listing and a managed on-chain market arriving together.

What a DGLD token is: one troy ounce of Swiss-vaulted gold

Gold Token SA describes DGLD as a claim on specific physical gold. The issuer's site states that "each token evidences a co-ownership right under swiss law corresponding to one fine troy ounce of allocated LBMA-certified gold", the bar standard set by the London Bullion Market Association. The issuer says MKS PAMP SA holds the metal in segregated, insured vaults at PAMP's facility in Castel San Pietro, Switzerland.

Gold Token SA says holders can take physical delivery from 1 gram upward, paying third-party delivery costs. The issuer charges no storage, custody or management fee while a token is held, and lists creation and burning fees of 0.20% each as initial rates.

The launch announcement describes a "supply-by-chain" model: the DGLD on each blockchain is backed by its own dedicated gold bars. A Solana DGLD therefore does not depend on a bridge contract holding tokens on Ethereum. Gold Token SA publishes monthly inventory reports from MKS PAMP, and the most recent one listed on 5 October 2026 covers August 2026.

MKS PAMP took full ownership of Gold Token SA in November 2025, according to the issuer's announcement at the time. Gold Token SA describes itself as a virtual asset service provider and a member of VQF, a self-regulatory organisation supervised by Swiss regulator FINMA.

How Arrakis and the Hadron prop AMM supply liquidity on Jupiter and Titan

Arrakis manages DGLD's on-chain market on Solana. In its own post, Arrakis said it is "bringing actively managed liquidity to Solana" using Hadron's prop AMM, with the resulting markets tradable through Jupiter JUP$0.345+3.8% and Titan, and named DGLD as an asset it supports as part of that expansion.

A prop AMM, short for proprietary automated market maker, is a liquidity pool whose operator sets the quotes. A standard pool prices trades from a fixed formula and relies on arbitrage traders to pull it back into line with the wider market. Hadron says its pool operators supply their own price, from an oracle such as Pyth or Switchboard, a composite of exchange prices or a published net asset value, and can update it every block. Hadron also says trade routers including Jupiter and Titan discover a pool from the chain as soon as it is created, with no listing step. Our Lightspeed summary on prop AMMs covers how the design took hold on Solana.

For a gold token, that means the pool can quote around a gold reference price. Arrakis's Solana page says its curve "quotes around your reference price continuously", and that an issuer's liquidity sits in a vault the issuer controls and can withdraw at any time.

Raphael Mankopf, Managing Director at Arrakis, made the case for that setup in Gold Token SA's announcement: tokenized gold is useful once it trades on-chain as easily as a native crypto asset.

SwissBorg app listing and the official Solana mint address

SwissBorg wrote that DGLD is "now in the SwissBorg app". Solana's official account said "over a million SwissBorg users can buy it in the app from today", a figure that describes SwissBorg's user base. SwissBorg's post names Gold Token SA as the offeror, says the DGLD white paper was prepared under the EU's MiCAR regulation, and carries the notice that the marketing communication has not been reviewed or approved by any EU authority.

On-chain, the Solana address Gold Token SA publishes for DGLD is dg1dmo6NZNagkwB6EAfUeaco6CFXFLRhb1KCrsqXTVz. Replies under the issuer's launch post circulated another address claiming to be the token the same afternoon. The issuer's site lists one Solana address, and it is the one above.

How the MKS PAMP token compares with PAXG and XAUm on Solana

DGLD arrives in a segment that already has established names. Paxos brought PAXG to Solana through Sunrise in June 2026, which we covered at the time, and Matrixdock's XAUm also trades on the network. Our August report on Solana's tokenized gold segment has the wider picture, and Compass groups these tokens on its gold asset page.

DGLD starts as the smallest of the three. A Solana Compass snapshot taken at 15:27 UTC on 5 October 2026, about two and a half hours after the announcement, showed roughly 407 DGLD in supply on Solana held in about 65 wallets. The same snapshot showed about 2,540 PAXG in roughly 800 wallets and about 1,575 XAUm in roughly 440 wallets. Each of the three tokens is denominated at one troy ounce of gold, according to its issuer, so the supply figures read as ounces.

DGLD's entry differs in two respects. The issuer is owned by the refiner that vaults the metal, and distribution starts in a retail app while a managed prop AMM handles the on-chain side. Arrakis's post described the Hadron-based setup as a service for token issuers in general, with DGLD the one asset it named. Whether trading depth builds in DGLD is an open question on day one.