Crypto market maker DWF Labs settled its first physical gold trade, signaling a rare move into legacy commodities amid surging bullion prices.
DWF Labs, a cryptocurrency-focused market maker, has expanded into physical commodities after settling its first physical gold transaction, a rare move for a crypto-native company as precious metal prices continue to break record highs.
On Monday, managing partner Andrei Grachev said DWF Labs had “just settled our first gold trade,” describing it as a test tranche involving a single 25-kilogram gold bar. Grachev said the company plans to scale the operation, with ambitions to trade physical silver, platinum and cotton.
Notably, the transaction was completed using conventional bullion custody and settlement infrastructure, rather than blockchain-based rails.
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