Tether Gold (Xaut), a gold-backed digital token issued by Stablecoin Giant Tether, is closed at a market capitalization of $1.5 billion.
According to data released by the company, Tether Gold currently has a market capitalization of around $1.46 billion, backed by 966 Gold Bar, weighing 11,693.4 kilograms.
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Digital Gold Rush pushes tether Xaut to $1.5 billion
The company said the total tokens were built up at 375,572.25 ounces, of which 261,961.71 ounces (approximately $10.1 billion) are in circulation, while 113,610.54 ounces remained on sale.
The market value of the token reflects Gold’s record-breaking rally. In fact, Spot Gold Price recently rose to an all-time high of $3,896.49, marking its seventh consecutive weekly profit.
Market analysts believe the climb is attributed to investors seeking safety amid concerns that the US government shutdown will be shut down for a long time and raise expectations for Federal Reserve cut rates.
As gold prices rise, digital representations like Xaut benefit from parallel demand. Investors are increasingly seeing tokenized gold as a more liquid, more accessible alternative to traditional holdings.
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As a result, Tether Gold has been rated nearly 46% over the past year and 10% over the past month, earning it one of the world’s largest cryptocurrencies due to its market capitalization.
Tethers to deepen your gold strategy
Tether’s ambitions in tokenized assets far exceed Xaut’s market performance.
The USDT issuer is reportedly working to raise at least $200 million for the new Department of Digital Assets Treasury (DATCO), focusing on tokenized gold. The venture partners with Antalpha, a company linked to Bitcoin hardware manufacturer Bitmain.
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According to the report, Datco will host Tether’s Xaut Tokens, opening the door for wider institutional participation in tokenized gold.
Meanwhile, the venture is based on a series of previous collaborations between Tether and Antalfa.
In June, Tether acquired an 8.1% stake in the company. By September, the two companies had expanded their partnerships to improve access to Xaut through secured lending and vault services across major financial centres.
These arrangements allow investors to redeem the token directly for the token’s physical gold bar, enhancing the real-world value proposition of the token.
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Furthermore, Tether is deeply diversified into the gold industry by investing in mining and loyalty companies.
The company has invested more than $200 million in Toronto-listed Elemental Altus, and is reportedly in talks with other global mining and loyalty groups.
Collectively, these initiatives mark one of Tether’s most audacious strategic changes since Tether established control over the stubcoin sector.
As CEO Paolo Ardoino often emphasizes, Bitcoin, gold and land continue to be the ultimate hedges of the company “descending the dark times.” As of June, the company had more than $8.7 billion in gold on its balance sheet.
