Tether has launched its gold-backed token XAUT on BNB Chain, expanding access to the world’s largest tokenized gold product with a $2.5 billion market cap. Each XAUT token represents one fine troy ounce of physical gold held in Swiss vaults as London Good Delivery bars, verified by independent attestations.
As of end-2025, Tether held over 520,000 troy ounces of gold backing XAUT. Binance, which operates BNB Chain, now supports spot trading pairs for XAUT against USDT, Bitcoin, FDUSD, USDC, and TRY.
"People understand gold. They trust it because it has held value for millennia," said Tether CEO Paolo Ardoino. "With XAUT, we are not changing what gold is; we are making it usable in a modern financial system."
Gold prices peaked above $5,500 in January, recently trading near $4,442. Despite near-term volatility, market sentiment remains bullish, with prediction markets assigning a 64% probability of a rebound to $4,900.
Tether, issuer of the $184 billion USDT stablecoin, recently engaged a Big Four accounting firm for its first full independent audit of USDT reserves-though the firm remains unnamed.