Reuters Style (Concise & Neutral Business Tone)
Tether’s Gold Token Market Cap Surges to $2.1B as Holdings Reach 11.6 Tons
29/10/2025
Tether said on Tuesday it held 11.6 tons of physical gold backing its tokenized gold product XAUT, whose market capitalization surpassed $2 billion in October as the price of gold hit new records.
The company’s reserves — equal to about 375,000 ounces — are stored in Switzerland and back each token 1:1, according to Tether. The token is issued by TG Commodities under El Salvador’s digital asset laws.
XAUT’s value rose from $1.4 billion in Q3 to $2.1 billion, tracking gold’s rally to $4,500 per ounce amid global inflation and geopolitical concerns.
Tether CEO Paolo Ardoino told CoinDesk the increase was largely driven by retail participation in emerging markets, where tokenized assets offer easier access to gold than traditional ETFs or brokerage accounts.
