Tether Publishes First Official Attestation of XAUT, Revealing $770 Million Market Cap Backed by 7.7 Tons of Physical Gold in Switzerland
Tether has made a significant move in the midst of the global rush for gold. Its gold-backed stablecoin, Tether Gold (XAUT), now has a market cap of $770 million, according to the first attestation conducted under the financial regulation of El Salvador.
XAUT by Tether: Physical Gold, Not “Paper”
Each XAUT token represents one troy ounce of LBMA-certified gold, with 246,523.33 ounces, or over 7.7 tons, stored in a dedicated Swiss vault. Tether ensures that strict controls, bar verification, and regular audits guarantee the solidity of the reserve, far from risky exposures to “paper gold.”
Paolo Ardoino, CEO of Tether, believes that XAUT will become the reference for tokenized gold for individuals and institutions as central banks pile up hundreds of tons of gold.
A Gold Rush Fueled by Crisis
The publication of this attestation comes as gold sets new records: the yellow metal has risen by 27% since January and is currently trading at $3,347 per ounce, with a recent high near $3,500. Since November 2022, its price has more than doubled, driven by fear of inflation and geopolitical instability.
Central banks, particularly in BRICS countries, have fueled this dynamic by accumulating over 1,044 tons of gold in 2024, according to the World Gold Council. Faced with this frenzy, the offering of a regulated product backed by physical gold, rather than derivatives, becomes a decisive argument.
XAUT: The Credible Alternative
As global demand for gold skyrockets, Tether positions XAUT as one of the few truly secure options for investors seeking exposure to the precious metal without compromising transparency. In an increasingly uncertain financial environment, the promise of tangible tokenized gold seems more enticing than ever before.
