Amid rising global uncertainty and a surge in demand for safe-haven assets, Tether’s gold-backed token, XAUt, is gaining serious traction among investors.
Backed by 7.66 tons of physical gold, Tether Gold has now crossed $800 million in market capitalization, according to a Q2 attestation by BDO Italia.
Over 259,000 XAUt tokens are currently in circulation, each representing one troy ounce of real gold. The asset’s price tracks closely with spot gold, which is hovering just below $3,400—up 40% over the past year.
XAUt combines physical gold’s stability with the speed and flexibility of blockchain, offering users on-chain access to one of the world’s oldest stores of value. The token is actively traded on major exchanges including Bitfinex, Bybit, KuCoin, and BingX, and has recently expanded into Thailand through Maxbit.
Tether is also innovating with interoperability. Its omnichain version of XAUt, launched via the USDT0 liquidity network on The Open Network (TON), marks another step in merging traditional commodities with blockchain efficiency.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/tether-gold-surpasses-800m-market-cap-as-gold-demand-soars/