Tether (XAUT) Announces Holding 7.7 Tons of Physical Gold as Reserves

Tether, the stablecoin issuer, announced that it holds a total of 246523.33 ounces of physical gold—equivalent to more than 7.7 tons

Tether, the stablecoin issuer, disclosed in its latest attestation report that it holds 246,523.33 ounces, or more than 7.7 tons, of physical gold as reserves for its tokenised asset, Tether Gold (XAUT). Each XAUT token is backed on a 1:1 basis by one troy ounce of physical gold, which is securely stored in a dedicated vault in Switzerland.

The report, as of March 31, showcases the company’s substantial investment in Bitcoin, with a reported holding of over $8.2 billion in the cryptocurrency.

“We are pleased to see the growing popularity of XAUT, especially in emerging markets, as new exchange listings continue to expand its availability,” said Tether CEO Paolo Ardoino.

“This provides users with the opportunity to benefit from the security of physical gold in a digital, easily transferable format, fully backed by gold reserves.”

He added: “While Bitcoin remains the most forward-looking choice for the digital era, we are proud to offer XAUT as a valuable addition to our portfolio of tokenised assets.”

XAUT’s market capitalization exceeded $770 million as of April 28, and the token is priced at around $3,300, reflecting gold’s performance. The token hit an all-time high of $3,423 on April 21.

Tether anticipates that the resilience of gold as a store of value will drive further growth for its tokenized gold product.

“At Tether, we are committed to combining the stability of traditional assets with the innovative technology of blockchain, aligning with XAUT's purpose,” Ardoino explained.

“This forms part of our broader effort to create financial tools that bridge traditional and digital finance.”