Tether’s gold-backed stablecoin, Tether Gold (XAUT), reached a $770 million market capitalization as of April 28, in line with the firm’s first attestation below El Salvador’s monetary rules.
“Whereas central banks are stacking up lots of of tons of gold, XAUt is ready to develop into the usual tokenized gold product for the individuals and establishments,” Tether CEO Paolo Ardoino posted on X.
The token is backed 1:1 by 246,523.33 ounces — over 7.7 tons — of bodily gold saved in a devoted Swiss vault, stated Tether.
Every XAUT token represents one troy ounce of LBMA-certified gold. Tether stated it applies strict controls, together with gold bar verification and periodic audits, to keep up belief within the token’s backing.
The attestation comes at a time when international traders are more and more turning to gold as a hedge towards financial instability and rising geopolitical dangers.
Central banks, notably throughout BRICS nations, have been shopping for gold at document ranges, accumulating over 1,044 metric tons in 2024 alone, in line with the World Gold Council.
The yellow metallic has touched quite a few document highs in 2025 amid an ongoing rally that is seen its worth achieve about 27% year-to-date. It is presently buying and selling at $3,343 per ounce, having greater than doubled since November 2022.
Tether emphasised that in contrast to different tokenized gold merchandise, XAUT is bodily backed and controlled, positioning it as a safer choice for customers cautious of “paper gold” publicity.
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