On April 25, 2025, Tether announced Tether Gold (XAUT) – a stablecoin backed by gold – is secured by over 7.7 tons of physical gold, with a market capitalization exceeding 800 million USD. Will XAUT become the new standard for safe-haven assets? Let's analyze in detail.


Tether Gold: A Stablecoin Backed by 7.7 Tons of Gold

According to the audit report from BDO Italia, as of March 31, 2025, #TetherGold (XAUT) is backed by over 7.7 tons of physical gold, with a market capitalization of 770 million USD. The price of XAUT, reflecting the price of gold, reached 3,123 USD at that time, up 9.6% from the previous quarter. To date, the price of XAUT has risen to 3,344 USD, pushing the market cap to 825 million USD, according to CoinGecko. This is the first time Tether has released a confirming report for XAUT, on Monday (April 21, 2025).


Tether CEO Paolo Ardoino commented on social media: “As central banks accumulate hundreds of tons of gold, #XAUT will become the standard tokenized gold product for individuals and institutions.” The growth of XAUT occurs amid investors seeking safe-haven assets like gold due to rising inflation concerns from President Trump's trade war.


Market Trends: Gold and XAUT Prices Rise

Gold prices have increased by 7% since April 2, 2025, after the Trump administration announced plans to impose heavy tariffs on trade partners. Gold has continuously set new highs amid market volatility, while financial institutions are also increasing accumulation. According to a report by the World Gold Council (WGC) in 2024, 29% of central banks are expected to increase gold reserves in the next 12 months. The rise in gold prices (currently 3,350 USD/ounce) has driven the increase of XAUT, making this stablecoin an attractive option for investors wanting exposure to gold without needing to own it physically.


Concerns About Tether's Financial Reporting

Although XAUT is experiencing strong growth, reports from BDO Italia have raised concerns about Tether's financial transparency. This report does not include detailed information and official disclosures from Tether, failing to adhere to International Financial Reporting Standards (IFRS) – the global gold standard. Critics demand Tether – the company with the USDT stablecoin valued at 119 billion USD – to undergo independent audits. Earlier this year, Tether was reportedly negotiating with a 'Big 4' firm to audit its reserves, but no results have yet emerged.


BDO Italia – the auditing firm for Tether – is also facing controversy. In early 2025, the Italian securities regulator CONSOB fined BDO Italia 250 million USD for violating auditing standards, according to La Repubblica. Previously, in 2015, the US SEC also accused BDO Italia of issuing 'biased and misleading' audit opinions.


Impact on the Crypto Market

The development of XAUT brings many positive signals:



  • Increasing trust in stablecoins: XAUT, supported by 7.7 tons of gold, enhances the legitimacy of stablecoins, especially in the context of initiatives like Stripe's stablecoin payments (used in over 90 countries) and Revolut's stablecoin plans.


  • Supporting safe-haven assets: With rising gold prices and a volatile market, XAUT provides a safe option for investors, complementing Bitcoin (94,800 USD), which is also seen as 'digital gold.'


  • Encouraging innovation: The success of XAUT could encourage other companies to develop stablecoins backed by real assets, such as real estate tokenization (expected to be 4 trillion USD by 2035, according to Deloitte).



Future Prospects

Despite facing transparency concerns, Tether Gold is capitalizing on the rising price of gold and the demand for safe-haven assets. If Tether improves its financial reporting and collaborates with a 'Big 4' auditor, XAUT could strengthen its position, becoming the standard for tokenized gold as Ardoino expects.


Conclusion: Will XAUT Change the Stablecoin Game?

Tether Gold (XAUT), with 7.7 tons of gold backing and a market cap of 825 million USD, is emerging as an attractive option between traditional finance and crypto. Although concerns about Tether's financial reporting remain, the growth of XAUT amid record gold prices indicates great potential. Will XAUT become the new standard for tokenized gold? Investors should stay closely tuned to seize opportunities.


Risk Warning: Crypto investment carries high risks due to price volatility and legal uncertainties. Please consider carefully before participating. #anhbacong