Tether’s XAUT Tokenized Gold Reaches $770 Million Market Cap
Tether's tokenized gold product, XAUT, has achieved a market cap of $770 million. Each token is backed 1:1 by LBMA-certified gold, with a total of 246,523.33 troy ounces (approximately 7.7 tons) stored in a Swiss vault.
Key points include:
- XAUT's growth driven by rising demand for gold as an inflation hedge.
- Central banks, particularly in BRICS nations, added over 1,000 metric tons to their reserves in 2024.
- Gold prices increased over 27% this year, reaching $3,343 per ounce.
- Tether promotes XAUT as a reliable digital alternative to physical gold.
- The product features regular audits and gold bar verification for transparency.