Tether's tokenized gold product, XAUT, issued its first official certificate, showing that its total backing amounts to 246,523.33 ounces, equivalent to over 7.7 tons of gold.
According to a statement issued on April 28, the price of XAUT is $3,123.57 per token, with a total market value of $770 million. The token reached an all-time high of $3,423 on April 21, an increase of 9.6% since the end of the first quarter.
Tether described XAUT as the leading product in the tokenized gold sector in terms of market volume and standards of safety and regulatory compliance. The company stated that this certification represents an important step in enhancing the project's transparency and its long-term appeal to institutional and individual investors.
■ The high demand for gold supports Tether's XAUT currency
According to Tether, the increase in global instability has boosted demand for gold, inadvertently enhancing interest in XAUT.
In the first quarter of 2025, the stablecoin issuer indicated that global economic uncertainty, rising geopolitical risks, and concerns over new trade barriers pushed investors to seek safer assets. This climate contributed to the increasing market capitalization of XAUT reaching new record levels.
Furthermore, gold itself performed exceptionally well during the reporting period.
Analysts at 'The Cobisi Letter' noted that gold prices have surpassed the S&P 500 index by 32.6% since the beginning of the year, marking the largest divergence since 1975.
Analysts also noted that gold prices have increased by 26.5% this year, while the S&P 500 index has decreased by 6.1%. This trend places gold in a superior position over the stock market for the second consecutive year.