Hold Your Breath: Tether’s $770M XAUT Backed by 7.7 Tons of Gold in Swiss Vault!

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What to know:

  • Tether Gold (XAUT) has reached a $770 million market capitalization and is backed by 7.7 tons of gold stored in a Swiss vault, says the company.
  • XAUT’s growth was fueled by geopolitical tensions and rising inflation fears, Tether claimed.
  • The stablecoin issuer released XAUT’s first attestation under El Salvador’s regulatory framework.

Well, well, well, the crypto world just keeps surprising us! Tether’s precious gold-backed stablecoin, Tether Gold (XAUT), has managed to reach a market capitalization of $770 million as of April 28. How’s that for impressively shiny numbers? According to their oh-so-exciting first attestation under El Salvador’s very own financial regulations (because why not trust the tiny country with such enormous, glittering wealth?), this is the real deal. Or so they say.

“While central banks are stacking up hundreds of tons of gold, XAUT is set to become the standard tokenized gold product for the people and institutions,” said Tether CEO Paolo Ardoino, proudly posting this on X (formerly known as Twitter). Oh, how humble! A humble brag, if you will, considering this gold-backed coin’s superiority over all those heavy, boring banks with their *actual* gold.

The star of the show is the token backed 1:1 by 246,523.33 ounces—more than 7.7 tons—of physical gold stored in some mysterious, secure Swiss vault. Now, before you start doubting this, Tether reassures us with the magical words “strict controls” and “periodic audits” (because who doesn’t love a good audit?).

The timing is impeccable. Investors, no doubt trembling in their boots as geopolitical tensions rise and inflation does what it does best (hike prices), are flocking to gold like it’s the last train leaving town. Central banks—yes, those big scary institutions—are hoarding gold like there’s no tomorrow. In 2024 alone, BRICS nations alone stockpiled over 1,044 metric tons of gold. That’s a lot of shiny stuff, folks!

But here’s the real kicker: the price of gold has shot up like a rocket in 2025, gaining a cool 27% year-to-date. It’s now trading at $3,343 per ounce, more than doubling since November 2022. What a ride!

But don’t worry! Unlike other tokenized gold products that are all “paper gold” (so *last century*), XAUT is the real deal, physically backed and regulated, making it the go-to choice for users tired of flimsy, paper-thin promises. So, what are you waiting for? Get your hands on some of this *real* gold-backed crypto magic and secure your future (or just watch your portfolio sparkle!).

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2025-04-28 20:20