Tether Gold (XAUT) Reserves Exceeded 11.6 Tons in Q3 Amid Yellow Metal's Rally
Tether's tokenized gold reserves, XAUT, surpassed 11.6 tons in Q3, reaching a $2.1 billion market cap due to gold's rally and retail demand.Summary
Tether, the company behind USDT, reported that its tokenized gold offering, XAUT, was backed by over 11.6 tons (more than 375,000 ounces) of physical gold as of September 30, with reserves held in Switzerland. The token, issued under El Salvador’s digital asset framework, experienced significant growth, with its market capitalization soaring past $1.4 billion in the third quarter and reaching $2.1 billion in October as the price of gold hit a high of $4,500. CEO Paolo Ardoino attributed this growth primarily to surging retail investor demand in emerging countries, driven by inflation concerns and geopolitical instability. Tokenized gold offers investors a blockchain-based way to hold the asset without the complexities of physical custody or accessing traditional derivatives like ETFs.
(Source：CoinDesk)