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- Tether has released its first unswerving attestation for Tether Gold (XAU₮), confirming over 7.7 a entire bunch physical gold backing the token
- XAU₮’s market capitalization has reached $770 million, with each token representing one troy ounce of gold kept in Swiss vaults
- The growth of XAU₮ reflects rising place a query to for inflation-resistant resources amid world economic uncertainty and geopolitical tensions
Tether, the issuer of the field’s largest stablecoin USDT, has unveiled its first formal attestation for its gold-backed token, Tether Gold (XAU₮), confirming that every of the 246,523.33 tokens in circulation is backed by one troy ounce of physical gold. This equates to extra than 7.7 a entire bunch gold, which it says is securely kept in Swiss vaults. The attestation, released on April 28, 2025, marks a critical step in Tether’s efforts to supply transparency and build trust in its digital resources, even supposing critics will search data from for a full third-occasion audit.
Swiss Vaults Holding Tether Gold
Tether Gold, launched in January 2020, is a digital token that represents ownership of physical gold. Every token is backed 1:1 by one troy ounce of gold, with the reserves kept in stable vaults in Switzerland. Tether says that the gold bars are licensed by the London Bullion Market Association (LBMA), guaranteeing their quality and authenticity, and it has implemented stringent controls, along with rigorous counterparty resolution, certificate verification, and traditional audits, to shield the integrity of the reserves.
The token’s market capitalization now sits at $770 million, with gold hitting an all-time excessive mark of $3,423 on April 21, 2025. This surge reflects the growing place a query to for resources that can serve as a hedge in opposition to economic instability, with Tether attributing the growth of XAU₮ to factors corresponding to escalating world economic uncertainty, heightened geopolitical tensions, and a rising place a query to for inflation-resistant shops of mark. Tether CEO Paolo Ardoino extolled the virtues of XAU₮ within the attestation file:
With XAU₮, we’re offering users the skill to fetch admission to the safety of physical gold in a digital be conscious—stable, simply transferable, and backed 1:1 by thoroughly held gold reserves.
Beefy Audit Soundless Lacking
The begin of the attestation gives users with assurance that the digital tokens they shield are thoroughly backed by tangible resources, even supposing it tranquil falls looking the full self sustaining audit that critics place a query to is required. An attestation is a file by an self sustaining third occasion that evaluates and confirms the accuracy of specific files equipped by an organization—on this case, the amount of gold backing XAU₮ tokens. This is similar to an organization’s annual accounts, which depend on files equipped by the corporate.
An audit, on completely different hand, is a extra entire examination of an organization’s financial statements and inner controls. While Tether’s attestation gives transparency relating to the gold reserves, it is no longer as exhaustive as a full financial audit, leaving lingering doubts amongst critics.
