Tether Reports $770M in XAUT Backing Amid Global Gold Surge
Tether has published its first attestation report for its gold-backed stablecoin, Tether Gold (XAUT), under El Salvador’s new regulatory framework, revealing a market cap of $770 million as of April 28.
The company confirmed that the token is fully backed by 246,523.33 troy ounces—equivalent to more than 7.7 tons—of physical, LBMA-certified gold held securely in a dedicated vault in Switzerland.
“With central banks accumulating massive gold reserves, XAUt is poised to become the go-to tokenized gold asset for both individuals and institutions,” Tether CEO Paolo Ardoino said in a post on X.
Each XAUT token corresponds to one troy ounce of gold, and Tether has emphasized its commitment to rigorous oversight, including bar verification protocols and periodic audits, to ensure full transparency and trust.
The attestation lands as gold continues to gain traction globally amid economic uncertainty and rising geopolitical tensions. The World Gold Council reports that central banks—particularly in BRICS nations—acquired over 1,044 metric tons of gold in 2024, marking a record pace of accumulation.
Gold has rallied strongly in 2025, hitting multiple all-time highs and climbing approximately 27% year-to-date. The precious metal was trading at $3,343 per ounce at last check, more than doubling from its November 2022 lows.
Tether highlighted that XAUT differs from many competing products by offering direct physical backing and regulatory compliance, which the company says provides a more reliable alternative to traditional “paper gold” instruments.
