Tether's First Quarter Report in 2025 Unveils 7.7 Metric Tons of Actual Gold Supporting XAUT Tokens
Tether, the prominent stablecoin issuer, has dropped its bombshell – a Q1 2025 attestation report on its gold-backed token, Tether Gold (XAUT)! This blockbuster report confirms that a staggering 7.7 tons of the precious metal lie at the heart of their tokenized gold product.
The news comes at a time when gold fever is on the rise, with escalating geopolitical tensions pushing the demand for gold as a shield against inflation.
XAUT Hits the 7.7 Tons Mark
The company flaunted the report on April 28, boasting a total of 246,524.33 secure XAUT tokens in circulation as of March 31. Every token equates to one troy ounce of physical gold stored in Swiss vaults, translating to 246,524.33 ounces or over 7.7 tons of gold.
"With XAUT, we offer users the goldmine of physical gold's security, packaged in a digital form-secure, moveable, and backed 1:1 by iron-clad gold reserves. It's part of our mission to develop tools that blend the best of traditional assets with blockchain's efficiency," declared Tether's CEO, Paolo Ardoino.
Intriguingly, 180,777.07 XAUT tokens have already been bought. The corresponding gold reserves added up to an eye-catching $564.67 million. The remaining 65,747.26 XAUT tokens await buyers, backed by gold valued at around $205.37 million. Based on the gold price of $3,123.5 per ounce, the XAUT tokens' market value would roughly stand at approximately $770.04 million.
The attestation unfolded under the watchful eye of El Salvador's new regulatory framework, with the London Bullion Market Association (LBMA) keeping the gold reserves.
While XAUT adoption is on a tear due to heightened economic turmoil and flaring trade war tensions, the demand for inflation-resistant assets, it seems, is driving this gold rush. Ardoino adds, "Tether Gold exemplifies the mettle of gold as a store of value, especially in rough economic seas."
Market Versus Mint
According to the World Gold Council, gold demand jumped 1% year-over-year in Q4 2024, setting a new record for the quarter. Central banks gathered 1,044.6 metric tons of gold in 2024, with 332.9 metric tons snapped up in Q4 by itself.
The US Dollar Index (DXY) recently plunged to a three-year low, which kick-started a gold resurgence that hit a new all-time high. This currency decline sparked a trend where gold emerged as an effective buffer against volatility, fueling increased demand for tokenized gold assets such as XAUT. In fact, XAUT's market capitalization hit $853.7 million last week, a new apex.
In addition, CoinGecko data confirms that Tether Gold is the Big Kahuna of tokenized gold products, solidifying its position in the digital asset universe.
Disclaimer
In sticking to the Trust Project's guidelines, we are committed to delivering unbiased and transparent journalism. Our reporting aims to provide timely, fact-based information. However, readers are encouraged to double-check facts themselves and consult an expert before making decisions based on this content. Check out our Terms and Conditions, Privacy Policy, and Disclaimers for further details.
- Tether, a renowned stablecoin issuer, has revealed an attestation report for Q1 2025, focusing on Tether Gold (XAUT), its gold-backed token, noting that over 7.7 tons of gold are stored in Swiss vaults to support the tokenized gold product.
- As of March 31, Tether boasted a total of 246,524.33 secure XAUT tokens in circulation, each token equivalent to one troy ounce of physical gold.
- Tether Gold, with its digital form paired with the security of physical gold, represents the company's mission to merge traditional assets with blockchain's efficiency.
- As of now, 180,777.07 XAUT tokens have already been purchased, with a corresponding gold value of around $564.67 million.
- Despite a portion of XAUT tokens awaiting buyers with a gold value of around $205.37 million, the market value of the XAUT tokens would approximately stand at approximately $770.04 million, based on the gold price of $3,123.5 per ounce.
- The attestation report for XAUT was carried out under El Salvador's new regulatory framework and oversight by the London Bullion Market Association (LBMA).
- Amidst escalating geopolitical tensions, gold fever is on the rise, with XAUT adoption increasing due to the demand for inflation-resistant assets, as Tether Gold exemplifies the mettle of gold as a store of value, especially in rough economic seas, and currently holds the top position among tokenized gold products in the digital asset universe.
