BitcoinSistemi 2025-04-28 18:26:07

Tether Releases First Report on Its Gold-Backed Stablecoin, XAUT, One of the Most Talked-About Topics of Recent Times

Tether’s gold-backed stablecoin XAUT closed the first quarter of 2025 with 7.7 tons of gold reserves, according to a company announcement today. Tether argued that XAUT, which was launched in 2020, has solidified its position as the leading tokenized gold product in terms of market cap, security, and compliance. The stablecoin is backed by 246,523 ounces of physical gold, according to data claimed in the report. The company noted in the report that this is the first report for the audit of XAUT. According to the report, at the end of the first quarter of 2025, the market value of XAUT was $770 million, with each token priced at approximately $3,123.57. Tether also noted that XAUT reached an all-time high of $3,423 on April 21, 2025, marking a 9.6% increase since the close of the first quarter. Related News: Bitcoin (BTC) Miners' Selling Pressure Drops to Lowest Level in a Year: What Does This Mean for the Future Price? “Each XAUT in circulation is backed by an equivalent ounce of pure gold,” Tether said in its report. “Tether Gold continues to demonstrate the strength and resilience of gold as a store of value, especially during times of economic uncertainty,” said Tether CEO Paolo Ardoino. “With XAUT, we are offering users access to the security of physical gold in a digital form that is secure, easily transferable, and backed 1:1 by fully held gold reserves. This is part of our broader commitment to creating financial instruments that combine the best of traditional assets with the efficiency of blockchain technology.” *This is not investment advice. Continue Reading: Tether Releases First Report on Its Gold-Backed Stablecoin, XAUT, One of the Most Talked-About Topics of Recent Times