$BTC

🚨📣: Tether's tokenized gold product, XAUT, has reached a record-breaking 7.7 tons, equivalent to 246,523.33 ounces.

- The token is priced at $3,123.57 per token, with a market cap of $770 million.

- Tether has described XAUT as the leading product in the tokenized gold sector based on market size, security standards, and regulatory compliance.

- Rising global instability has boosted demand for gold, inadvertently boosting interest in XAUT.

Gold prices have outperformed the S&P 500 by 32.6% year-to-date, the largest divergence since 1975.

Central banks around the world are increasing their gold holdings, with China doubling its share of gold reserves to 7.1% since early 2023.

Tether CEO Paolo Ardoino plans to expand the reach of XAUT, particularly in emerging markets, providing users with the security of physical gold in digital form.