The cryptocurrency world is seeing a surge in the issuance of gold-backed tokens, with some of the digital-asset industry’s biggest and most controversial participants joining in on the fresh gold rush.

The throng behind the Tether stablecoin and the Bitfinex trading platform plan to issue Tether Gold before Christmas. The token will be backed 100% by bullion reserves, according to Paolo Ardoino, who serves as chief technology officer for Bitfinex and Tether.