Tether launches XAUt on BNB Chain as gold trading moves deeper into crypto

Tether has expanded access to its tokenized gold product, XAUt (Tether Gold), by launching it on the BNB Chain. This move comes as gold trading gains traction within the crypto market, driven by geopolitical tensions and investor interest in safe-haven assets. Binance will also list XAUt for spot trading against several pairs. While gold saw a significant rally in January, it has since experienced a reversal, currently trading around $4,450. Despite this, demand for both direct exposure and speculative trading tools related to gold is increasing in the crypto space, with platforms like Crypto.com adding support for tokenized gold contracts. XAUt is already the largest tokenized gold product in crypto, boasting a market cap of approximately $3.2 billion, backed by around 1,800 gold bars stored in Swiss vaults, representing about 60% of the gold-backed stablecoin market. Tether aims to make gold more usable in digital markets, moving beyond its role as a static store of value.

(Source：Crypto Briefing)