Tether’s gold-backed stablecoin, Tether Gold (XAUT), reached a $770 million market capitalization as of April 28, in response to the firm’s first attestation below El Salvador’s monetary laws.
“Whereas central banks are stacking up a whole lot of tons of gold, XAUt is about to grow to be the usual tokenized gold product for the folks 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, mentioned Tether.
Every XAUT token represents one troy ounce of LBMA-certified gold. Tether mentioned it applies strict controls, together with gold bar verification and periodic audits, to take care of belief within the token’s backing.
The attestation comes at a time when world buyers are more and more turning to gold as a hedge in opposition to financial instability and rising geopolitical dangers.
Central banks, notably throughout BRICS nations, have been shopping for gold at report ranges, accumulating over 1,044 metric tons in 2024 alone, in response to the World Gold Council.
The yellow metallic has touched quite a few report highs in 2025 amid an ongoing rally that is seen its value acquire about 27% year-to-date. It is at present buying and selling at $3,343 per ounce, having greater than doubled since November 2022.
Tether emphasised that not like different tokenized gold merchandise, XAUT is bodily backed and controlled, positioning it as a safer possibility for customers cautious of “paper gold” publicity.
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