gold-backed token revolutionizing the digital asset landscape
Tether Announces Backing of $770 Million in Gold for Tether Gold Token
In an exciting development, Tether, the crypto powerhouse known for its stablecoins USDT and other digital assets, has revealed a mind-boggling $770 million worth of physical gold reserves backing its Tether Gold (XAUT) stablecoin. Since its launch in 2020, XAUT has been promising users the best of both worlds - the traditional security of gold coupled with the sleekness and speed of blockchain technology.
Each XAUT token represents the digital ownership of an actual ounce of gold, securely stored in Swiss vaults. Tether has confirmed that these gold reserves match the number of XAUT tokens in circulation, although for obvious security reasons, the exact vault locations remain undisclosed.
Paolo Ardoino, Tether's CEO, highlights the significance of XAUT, stating, "Tether Gold continues to stand strong as a testament to gold's unwavering role as a store of value, particularly during uncertain economic times. XAUT offers users the unique advantage of owning physical gold digitally - secure, transferable, and backed 1:1 by fully-held gold reserves."
In response to increasing industry pressure for transparency, Tether has enlisted third-party custodians to conduct regular audits, ensuring the gold reserves align with the circulating XAUT tokens.
Recent announcements by Tether include the appointment of a new chief financial officer and plans for a full audit of their operations, setting the stage for increased trust within the digital asset community.
a glimpse into Tether Gold reserves
Tether Gold (XAUT), boasting a market cap of around $770 million as of April 2025, is backed by 7.7 tons or 246,524.33 troy ounces of physical gold stored in secure Swiss vaults. With each XAUT token equating to one troy ounce of gold certified by the London Bullion Market Association (LBMA), Tether ensures the safety of the gold reserves through rigorous security measures.
According to recent attestations, Tether complies with strict gold reserve and token issuance standards, distinguishing XAUT from other tokenized gold offerings in the market. Moreover, the appointed custodians verify gold bars on a regular basis, enhancing the credibility of XAUT as a regulated digital asset in El Salvador.
The current high demand for XAUT, fueled by economic instability and geopolitical tensions, underscores gold's appeal as a safe-haven asset in turbulent times. With a market cap of $770 million, roughly $564.67 million worth of XAUT represents committed gold reserves, while the remaining value stands at approximately $205.37 million[1][2].
- Tether Gold (XAUT), with a market cap of around $770 million as of April 2025, is backed by 7.7 tons or 246,524.33 troy ounces of physical gold stored in secure Swiss vaults.
- Each XAUT token equates to one troy ounce of gold certified by the London Bullion Market Association (LBMA), ensuring the safety of the gold reserves through rigorous security measures.
- In response to increasing industry pressure for transparency, Tether has enlisted third-party custodians to conduct regular audits, ensuring the gold reserves align with the circulating XAUT tokens.
- The current high demand for XAUT, fueled by economic instability and geopolitical tensions, underscores gold's appeal as a safe-haven asset in turbulent times, showcasing the significance of Tether Gold (XAUT) within the finance and technology sectors.
