29-4-2025 – Tether Gold (XAUT), a stablecoin tethered to the value of physical gold, has achieved a market capitalisation of $770 million as of April 28, according to its inaugural attestation under El Salvador’s stringent financial oversight. This milestone underscores the growing allure of gold-backed digital currencies amid turbulent economic currents and escalating geopolitical tensions.
Tether, the issuer of XAUT, ensures each token corresponds precisely to one troy ounce of LBMA-certified gold, securely stored in a Swiss vault. The company holds 246,523.33 ounces—equivalent to over 7.7 tonnes—of physical gold, subject to rigorous verification processes and regular audits to uphold transparency and trust. Unlike other digital gold offerings, which may rely on indirect exposure, XAUT’s direct physical backing positions it as a robust and regulated alternative, distancing it from the risks associated with so-called “paper gold.”
Paolo Ardoino, Tether’s chief executive, heralded XAUT’s rise on X, proclaiming it the “standard for tokenised gold” for both institutional and individual investors. His optimism aligns with a broader global trend, as central banks, particularly within the BRICS bloc, have amassed over 1,044 metric tonnes of gold in 2024 alone, according to the World Gold Council. This unprecedented accumulation reflects gold’s enduring status as a safe haven, with its price soaring 27% this year to $3,343 per ounce—a remarkable ascent that has seen it more than double since November 2022.
