Markets, Tether, Tether Gold, News Tether reported the primary attestation report for its Tether Gold product beneath new El Salvador laws as gold demand surges globally 

Tether’s gold-backed stablecoin, Tether Gold (XAUT), reached a $770 million market capitalization as of April 28, in response to the company’s first attestation beneath El Salvador’s monetary laws.

“While central banks are stacking up hundreds of tons of gold, XAUt is set to become the standard tokenized gold product for the people and institutions,” Tether CEO Paolo Ardoino posted on X.

The token is backed 1:1 by 246,523.33 ounces — over 7.7 tons — of bodily gold saved in a devoted Swiss vault, stated Tether.

Each XAUT token represents one troy ounce of LBMA-certified gold. Tether stated it applies strict controls, together with gold bar verification and periodic audits, to keep up belief within the token’s backing.

The attestation comes at a time when world buyers are more and more turning to gold as a hedge towards financial instability and rising geopolitical dangers.

Central banks, notably throughout BRICS nations, have been shopping for gold at file ranges, accumulating over 1,044 metric tons in 2024 alone, in response to the World Gold Council.

The yellow steel has touched quite a few file highs in 2025 amid an ongoing rally that is seen its value acquire about 27% year-to-date. It’s at present buying and selling at $3,343 per ounce, having greater than doubled since November 2022.

Tether emphasised that not like different tokenized gold merchandise, XAUT is bodily backed and controlled, positioning it as a safer possibility for customers cautious of “paper gold” publicity.

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