DWF Labs, a prominent crypto market maker and venture capital firm, has completed its first physical gold transaction, marking a significant step into the real-world asset (RWA) sector. The trade involved a single 25-kilogram gold bar and was settled using traditional bullion-market custody and settlement systems, not on-chain transfers.
The announcement was made by DWF Labs managing partner Andrei Grachev via a post on X (formerly Twitter) on December 22, 2025. Grachev described the deal as a "test tranche" and stated, "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."
The company has not disclosed key details of the transaction, including the counterparty, the exact price paid, which vault handled the bar, or the insurance arrangements. This limited disclosure indicates the trade was primarily a logistical proof-of-concept to validate the firm's operational capability in handling physical commodities.
DWF Labs' move comes during a period of record-high gold prices, driven by market volatility, inflation, and geopolitical tensions, which have increased demand for the precious metal as a safe-haven asset. The firm's strategy aims to bridge the gap between crypto capital markets and traditional commodity markets, leveraging its expertise in digital finance to offer clients access to tangible assets.
Looking ahead, DWF Labs plans to scale its physical commodity operations, with intentions to expand into trading silver, platinum, and cotton. This initial foray positions the company as a pioneer among crypto-native firms moving into traditional asset classes, potentially paving the way for innovative financial products that merge crypto infrastructure with physical RWAs.
