Gold-backed stablecoins near $4 billion as safe-haven demand grows onchain
Gold-backed stablecoins have surpassed $4 billion in market cap, driven by gold's rally and crypto investors' safe-haven demand.Summary
The market capitalization of gold-backed stablecoins has surged past $4 billion, nearly tripling since the start of 2025, a growth attributed to the 66% year-to-date rally in gold prices fueled by macroeconomic uncertainty and geopolitical tensions. Tether Gold (XAUt) leads the sector with a $2.2 billion market cap, closely followed by Paxos Gold (PAXG) at $1.5 billion, collectively accounting for nearly 90% of the market. This trend signifies that crypto investors are increasingly seeking onchain exposure to traditional safe-haven assets. Furthermore, Tether has become a significant institutional gold accumulator, holding approximately 116 tons by the end of September, placing it among the top 30 global gold holders according to IMF data.
(Source：The Block)