Crypto Meets Gold: DWF Labs Breaks The Mold

DWF Labs, a crypto market maker and venture arm, has reported that it completed its first physical gold trade, calling the deal a test tranche.

According to company posts and social media updates, the move involved a single 25-kilogram gold bar and was settled using conventional bullion custody and settlement systems.

The announcement was shared by Andrei Grachev on X on Dec 22, 2025. Based on reports, the firm did not disclose the counterparty, price or which vault handled the bar.

Test Tranche And Setup

The trade was described as a small-scale test rather than a full launch. One 25-kilogram bar was the entire lot. Reports have disclosed no public detail on counterparty, pricing, exact custodian or insurance arrangements.

We just settled our first physical gold trade. It was a test tranche of 25kg gold bar, but everything went well and we are scaling this operations up with a plan to trade physical silver, platinum and cotton. Following @DWFLabs vision to play a substantial part of RWA market

— Andrei Grachev $FF (@ag_dwf) December 22, 2025

That limited disclosure means outside observers only have the basic facts: a settled physical bar, a claim from DWF Labs, and social posts dated Dec. 22–23, 2025 that flagged the move.

Settlement Through Conventional Channels

DWF Labs said the transaction used traditional bullion-market plumbing for custody and settlement instead of an on-chain transfer. That suggests the firm relied on existing industry rails — vaults, auditors and established settlement processes — to complete the deal.

Based on reports, the choice highlights a cautious approach: test the mechanics of buying and holding metal while keeping the legal and operational pieces in familiar territory.

DWF Labs is known for market making, liquidity services and venture investments across crypto. According to the company’s statements, the gold trade is part of a broader push into real-world assets.

The firm has said it plans to expand beyond gold into silver, platinum and cotton. Numbers are sparse in the initial disclosure; the single 25-kilogram bar appears to be a proof point intended to validate logistics rather than signal a fixed trading program.

Based on reports, the company intends to scale its physical-commodity efforts if the test proves workable. Observers will watch for filings, formal partner announcements, or more detailed updates that name vaults, brokers or logistics partners.

Any future moves that include multiple bars, varied metals, or a disclosed price would give a clearer picture of how DWF aims to mix crypto capital markets with physical commodity markets.

Featured image from Uli Deck / Getty Images, chart from Tradingview