Tether’s Gold-Backed Token Surpasses $2 Billion Market Cap
Tether's gold-backed stablecoin, XAUt, has achieved a market capitalization exceeding $2 billion, according to its latest quarterly report. Each token is fully collateralized by physical Gold held in Swiss vaults, with reserves totaling 375,572 fine troy ounces—valued at approximately $1.44 billion as of September 30.
The circulating supply of XAUt stands at 522,089 tokens, with an additional 139,751 allocated but unreleased. The token's market value has more than doubled since August, reaching $2.1 billion amid rising gold prices and institutional interest in tokenized assets.
"Tether Gold demonstrates that real-world assets can thrive on blockchain without compromise," said CEO Paolo Ardoino. The milestone underscores growing confidence in asset-backed cryptocurrencies as gold prices hit record highs.
