Stablecoin Giant Tether Expands Leading Gold-Backed Token to BNB Chain
Tether has launched its gold-backed token, XAUT, on the BNB Chain, expanding access to digital gold following a surge in gold prices. XAUT is the largest gold-backed token, with a market cap of nearly $2.5 billion—about half of the total $5.3 billion tokenized gold market. Each token represents one troy ounce of physical gold stored in Swiss vaults, fully backed and regularly attested by independent parties. Binance now offers spot trading of XAUT with various currency pairs. Tether’s CEO emphasized XAUT’s ability to make gold usable in digital financial systems, allowing instant and global transactions while maintaining exposure to physical gold. The move aims to give hundreds of millions of users easier access to gold through digital assets. Despite recent gold price declines, market sentiment remains bullish. Tether also recently announced an upcoming independent audit of its USDT reserves by a top accounting firm.
