The stablecoin backed by gold from Tethher, Tether Gold (Xaut), reached a market capitalization of $ 770 million to April 28, according to the company’s first certification under the financial regulations of El Salvador.
“While central banks are stacking hundreds of tons of gold, Xaut will become the standard tokenized gold product for people and institutions,” published the CEO of Tether, Paolo Ardoino, in X.
The Token is backed 1: 1 for 246,523.33 ounces, more than 7.7 tons, of physical gold stored in a dedicated Swiss vault, Tether said.
Each Token Xaut represents a golden troyan ounce certified by LBMA. Tether said it applies strict controls, including the verification of the Golden Bar and periodic audits, to maintain confidence in the support of Token.
Certification occurs at a time when global investors are increasingly resorting to gold as a coverage against economic instability and the increase in geopolitical risks.
Central banks, particularly in BRICS nations, have been buying gold at record levels, accumulating more than 1,044 metric tons only in 2024, according to the Gold Council World Cup.
The yellow metal has played numerous records in 2025 in the middle of an ongoing demonstration that has seen that its price gained approximately 27% in the year to date. It is currently quoted at $ 3,343 per ounce, which has doubled since November 2022.
Tether emphasized that, unlike other tokenized gold products, Xaut is physically backed and regulated, positioning it as a safer option for users who distrust the exposure to “paper gold.”
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