Stablecoin giant Tether has amassed a total of over 7.7 tons of physical gold to back its tokenized asset, Tether Gold.
Tether revealed this via an attestation report, the first the company has issued for its digital asset Tether Gold (XAUT). Per the details, the Tether (USDT) issuer said it currently holds pure gold as reserve backing for every XAUT token in circulation.
As of the report, the company held 246,523.33 ounces of gold, totaling more than 7.7 tons.
“Each XAU₮ token is backed 1:1 by one troy ounce of physical gold, securely stored in a dedicated vault within world-class facilities in Switzerland,” the USDT issuer noted.
The attestation release follows Tether’s establishment of its headquarters in El Salvador.
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In a comment, Tether chief executive officer Paolo Ardoino said the tokenized gold product has gained notable traction, including significant growth in the first quarter of 2025.
Ardoino sees Tether Gold continuing to grow as demand across emerging markets rises. He also expects new exchange listings for XAUT to further boost adoption as gold shows greater resilience as a store of value. The Tether chief added:
“With XAU₮, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferable, and backed 1:1 by fully held gold reserves. It’s part of our broader commitment to building financial tools that combine the best of traditional assets with the efficiency of blockchain technology.”
Despite this massive haul of gold, Tether sees Bitcoin (BTC) as “the most forward looking choice for the digital era.”
The company points to itself as one of the biggest investor in BTC education resources. Tether is also an aggressive buyer of Bitcoin, and held over $8.2 billion in BTC at the end of Q1, 2025.
XAUT’s market cap stood at over $770 million as of April 28, while the token’s price hovered near $3,300, mirroring the performance of gold. The token reached an all-time high of $3,423 on April 21, 2025.
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