Tether publishes first attestation for XAUt
Each XAUt token represents one troy ounce of gold
Tether, the issuer of the XAUt token, whose price is pegged to physical gold, has reported its asset backing for the first quarter of 2025.
According to a report by The Defiant, Tether released its first official attestation for the stablecoin Tether Gold (XAUt) for Q1 2025, showing that 246,523 XAUt tokens, with a market capitalization of $770 million, are backed by 7.7 tonnes of gold stored by the Swiss company TG Commodities.
Each XAUt token represents one troy ounce of gold, equivalent to 31.1 grams. Tether notes that the gold-backed stablecoin XAUt, regulated under the laws of El Salvador, is gaining popularity among institutional investors in emerging markets, as it combines the stability of gold with the advantages of digital assets.
These advantages include ease of transportation, 24/7 global trading, divisibility down to 0.000001 troy ounces, and other benefits.
Combining the value of gold with the convenience of digital assets
Since the launch of XAUt in April 2020, the token’s price, mirroring gold’s growth, has increased by over 110%, reaching $3,331 at the time of writing.
If investors wish to exchange their XAUt tokens for physical gold, Tether promises to fulfill such requests at any address within Switzerland.
The current market capitalization of XAUt stands at $819.6 million, with its physical equivalent represented by 644 gold bars weighing a total of 7,667.7 kg.
As we wrote, Tether Investments has increased its stake in Juventus Football Club to over 10.12% of the issued share capital, deepening its involvement with one of Europe’s most iconic sports brands.
