Tether has purchased 7.7 tons of gold reserves for its Tether Gold (XAUT) token.

Each XAUT token is backed one-to-one by one troy ounce of physical gold of London Bullion Market Association (LBMA) gold bars

Stablecoin issuer Tether has purchased 7.7 tons of gold reserves for its Tether Gold (XAUT) token.

Each XAUT token is backed one-to-one by one troy ounce of physical gold of London Bullion Market Association (LBMA) gold bars, which are stored in a dedicated vault in Switzerland.

Tether has released the attestation report for the first quarter of 2025, revealing that it has 246,523.33 ounces of gold in storage, equal to 7.7 tons.

“Tether Gold continues to demonstrate the strength and resilience of gold as a store of value, especially in times of economic uncertainty,” said Paolo Ardoino, CEO of Tether.

Tether Gold’s price is $3,350, up 43% compared to $2,342 a year earlier. XAUT’s market cap at the end of March was $770 million, showing just how fast the price of gold has been rising in the current unsettled economy.

“With XAUT, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferrable, 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,” Ardoino added.

Tether is now based in El Salvador and is regulated under the laws of the crypto-friendly country. An attestation is a snapshot in time rather than a full auditor's report. The attestation was carried out by the Italian arm of BDO, the fifth-largest global accounting firm.

News data source: kdj.com

The above is the detailed content of Tether has purchased 7.7 tons of gold reserves for its Tether Gold (XAUT) token.. For more information, please follow other related articles on the PHP Chinese website!