Tether attests to full physical backing for its gold-based token as market value tops $2 billion
Tether confirmed its XAUT token is fully backed by physical gold, with its market value exceeding $2 billion.Summary
Tether published its Q3 attestation confirming that its Tether Gold (XAUT) tokens remain fully backed by physical bullion stored in Switzerland. As of September 30, reserves totaled 375,572 fine troy ounces, valued at $1.44 billion. Since then, gold's rally has pushed XAUT's fully backed market value past $2.1 billion, significantly up from under $850 million in August. CEO Paolo Ardoino highlighted XAUᵉ as representing the future of asset ownership, combining physical security with digital freedom. The surge in tokenized gold reflects broader institutional interest in tokenization and a shift toward gold and crypto as "assets of fear" amid concerns over sovereign debt, though some analysts warn the rally might be losing momentum.
(Source：The Block)