Tether’s gold-backed stablecoin, Tether Gold (XAUT), reached a $770 million market capitalization as of April 28, based on the corporate’s first attestation below El Salvador’s monetary rules.
“Whereas central banks are stacking up tons of of tons of gold, XAUt is about to turn 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, 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 international buyers 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 report ranges, accumulating over 1,044 metric tons in 2024 alone, based on the World Gold Council.
The yellow steel has touched quite a few report highs in 2025 amid an ongoing rally that is seen its value achieve about 27% year-to-date. It is at the moment 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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