Tether Gold Backed by 7.7 Tons of Gold in Swiss Vault

Tether’s gold-backed stablecoin, Tether Gold (XAUT), reached a $770 million market capitalization as of April 28, in accordance with the firm’s first attestation below El Salvador’s monetary rules.

“While central banks are stacking up hundreds of tons of gold, XAUt is set to become the standard tokenized gold product for the people and institutions,” 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.

Each 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 in the token’s backing.

The attestation comes at a time when world traders are more and more turning to gold as a hedge towards financial instability and rising geopolitical dangers.

Central banks, significantly throughout BRICS nations, have been shopping for gold at report ranges, accumulating over 1,044 metric tons in 2024 alone, in accordance with 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’s at present 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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