Oh, look who’s stacking up the gold now. Tether, the self-proclaimed king of stablecoins, has apparently managed to scrape together over 7.7 tons of physical gold. And it’s all backing their digital token, Tether Gold (XAUT). So yeah, they’re not messing around. Not that you’d expect anything less from the stablecoin overlords, right?
They made this big reveal through an “attestation report” – whatever that means – and let’s just say, it’s the first time they’ve ever done it for their precious XAUT token. Apparently, for every single XAUT token out there, there’s an actual, real, physical ounce of gold sitting pretty in some vault in Switzerland. So, no big deal, just over 246,523 ounces of gold at this point. We’re talking more than 7.7 tons. They’re practically swimming in it. 🏊♂️
“Each XAU₮ token is backed 1:1 by one troy ounce of physical gold, securely stored in a dedicated vault within world-class facilities in Switzerland,” said the USDT issuer. World-class? Yeah, because gold doesn’t just hang out in any old vault, does it?
Oh, and did you know? Tether recently set up their headquarters in El Salvador. Maybe they think it’s the Bermuda Triangle of crypto? You know, a place where things disappear… and somehow reappear in the form of digital assets backed by more gold than I’ve seen in my entire life.
So, Tether’s big cheese, Paolo Ardoino, says that their tokenized gold product is doing really well – you know, “notable traction,” “massive growth in Q1 2025,” and all that corporate fluff. But don’t worry, he’s got bigger dreams. He believes that as demand rises in emerging markets, Tether Gold is just going to keep growing like some kind of unstoppable force. All hail the golden future! 🌍
Oh, and just so you know, they’re totally planning to list XAUT on more exchanges. Because, why wouldn’t they? Who doesn’t want more people getting in on this tokenized gold gig? Apparently, gold’s still looking pretty solid as a “store of value,” but I’m sure it’s nothing compared to the *real* forward-thinking asset—Bitcoin. Just in case you missed it, Tether thinks BTC is the “most forward-looking choice for the digital era.” So, yeah, let’s all just go along with that one. 🙄
“With XAU₮, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferable, and backed 1:1 by fully held gold reserves. It’s part of our broader commitment to building financial tools that combine the best of traditional assets with the efficiency of blockchain technology,” said Ardoino. I’m *sure* that’s exactly how he said it.
In case you’re wondering, Tether is also spending a fortune on Bitcoin. I mean, over $8.2 billion by the end of Q1 2025. So they’re kind of like the modern-day digital gold rush, only without the pickaxes and with a whole lot more Bitcoin. 🪙
As for XAUT, it’s sitting pretty at a market cap of over $770 million as of April 28, 2025. Oh, and the price? It’s hovering around $3,300, which is *basically* the same as gold’s performance, but in digital form. Kind of like a shiny new way to do old-school things. It hit an all-time high of $3,423 on April 21, 2025, because why wouldn’t it?
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2025-04-28 18:23