🏅 Tether Gold (XAUT) reaches a market cap of $770M, backed by 7.7 tons of gold

#Tether has just released its first attestation report for #stablecoin #Tether #Gold (XAUT), confirming that all over 246,000 tokens in circulation are backed 1:1 by physical gold. The total volume of gold currently stands at approximately 7.7 tons, stored in secure vaults in Switzerland.

Each XAUT represents one troy ounce of gold meeting LBMA standards, with a current value of approximately $3,315. Tether asserts that backing with real gold and adhering to strict regulations makes XAUT a reliable digital asset for both individual and institutional investors.

CEO Paolo Ardoino stated: in the context of global central banks actively accumulating gold, XAUT emerges as a new benchmark for gold tokenization – bridging the gap between traditional assets and the blockchain world.