🪙 Tether Launches Omnichain Gold-Backed Stablecoin (XAUt₀) on Tron
🔗 Cross-Chain Gold: Tether has officially launched XAUt₀, an omnichain gold-backed stablecoin on the Tron blockchain, aiming to expand its presence across multiple blockchain ecosystems. Built using LayerZero’s Omnichain Fungible Token (OFT) standard, XAUt₀ allows seamless cross-chain transfers without relying on traditional middlechains.
🏦 Backed by Real Gold: As of Q1 2025, Tether holds 7.7 metric tons of physical gold in Swiss vaults to back its gold stablecoins. Each XAUt token represents one troy ounce of physical gold, ensuring full asset backing.
📤 Built for Interoperability: XAUt₀ follows the path of USDT₀, Tether’s omnichain version of its dollar-backed stablecoin USDT. While XAUt was originally launched on Ethereum, this new omnichain version boosts interoperability across DeFi platforms.
📊 Market Dominance: Tether’s XAUt remains the largest gold-pegged stablecoin, currently commanding a market cap of $832 million, ahead of Paxos’ Pax Gold (PAXG) at $811 million.