Stablecoin giant Tether has amassed a total of over 7.7 tons of physical gold to back its tokenized asset, Tether Gold.
Tether revealed this via an attestation report, the first the company has issued for its digital asset Tether Gold (XAUT). According to the details, the stablecoin issuer currently holds pure gold as reserve backing for every XAUT token in circulation.
As per the report, Tether held 246,523.33 ounces of gold, totaling more than 7.7 tons.
“Each XAU₮ token is backed 1:1 by one troy ounce of physical gold, securely stored in a dedicated vault within world-class facilities in Switzerland,” the USDT issuer stated.
The attestation release comes after Tether’s strategic move of establishing its new headquarters in El Salvador.
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In a comment, Tether chief executive officer Paolo Ardoino noted that the tokenized gold product has gained notable traction, particularly during the first quarter of 2025.
Ardoino expressed optimism about the future of Tether Gold, emphasizing that growing demand across emerging markets and anticipated new exchange listings for XAUT could further boost adoption. As traditional markets seek resilience, digital gold is becoming increasingly attractive as a store of value.
“With XAU₮, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferable, and backed 1:1 by fully held gold reserves. It’s part of our broader commitment to building financial tools that combine the best of traditional assets with the efficiency of blockchain technology,” Ardoino said.
Despite holding substantial gold reserves, Tether continues to view Bitcoin as “the most forward-looking choice for the digital era.” The company has become a major investor in Bitcoin education initiatives and aggressive Bitcoin buyer, with holdings exceeding $8.2 billion as of the end of Q1 2025.
As of April 28, Tether Gold (XAUT) boasted a market cap of over $770 million, with its token price hovering near $3,300, closely tracking the price of gold. XAUT reached an all-time high of $3,423 on April 21, 2025.
