.){kind=link}
29th April 2025 – (New York) Tether, the stablecoin issuer, announced that it holds a total of 246,523.33 ounces of physical gold—equivalent to more than 7.7 tons—as reserves for its tokenised asset, Tether Gold (XAUT). Each XAUT token is backed on a 1:1 basis by one troy ounce of physical gold, securely stored in a dedicated vault in Switzerland, according to the company’s latest attestation report.
The attestation follows Tether’s recent establishment of its headquarters in El Salvador. In a comment, Tether CEO Paolo Ardoino highlighted the growing popularity of XAUT, particularly in emerging markets, and predicted further adoption as new exchange listings expand its availability. Ardoino emphasized that XAUT offers users the ability to benefit from the security of physical gold in a digital, easily transferable format fully backed by gold reserves.
Despite its significant gold holdings, Tether maintains that Bitcoin remains “the most forward-looking choice for the digital era.” The company reported holding over $8.2 billion in Bitcoin as of the end of the first quarter of 2025 and continues to position itself as a major investor in Bitcoin education initiatives.
XAUT’s market capitalization reached over $770 million as of April 28, with the token priced near $3,300, reflecting gold’s performance. The token hit an all-time high of $3,423 on April 21, 2025. Tether expects the resilience of gold as a store of value to drive further growth for its tokenized gold product.
Ardoino also noted that XAUT aligns with Tether’s mission of combining the stability of traditional assets with blockchain technology. The company sees this as part of its broader effort to create financial tools that bridge traditional and digital finance.