As of April 28, 2025, Tether Gold (XAU₮) maintains its position as the highest market-cap, most secure, and compliant tokenized gold product in the market. With the product now regulated in El Salvador, we are proud to publish the first official attestation specific to XAU₮ under this new regulatory framework.

Each XAU₮ token is backed 1:1 by one troy ounce of physical gold, securely stored in a dedicated vault within world-class facilities in Switzerland. The purchase of London Bullion Market Association (LBMA) gold bars— the global authority on precious metals—is subject to stringent controls, including rigorous counterparty selection, verification of gold bar certificates, and periodic gold assays conducted in the presence of auditors. The XAU₮ issuance process is governed by rigorous procedural and legal frameworks. 

Key Q1 2025 Highlights (as per the attestation date)

• Every XAU₮ in circulation is backed by an equivalent ounce of pure gold (246,523.33 ounces equivalent to more than 7.7 tons of gold)
  
  
• Price per XAU₮: $3,123.57
  
  
• Market Capitalization: $770.0 million
  
  
• XAU₮ All-Time High Price: $3,423 (April 21, 2025, up 9.6% from the end of Q1/25)
  

The growth of Tether Gold during Q1 was driven by escalating global economic uncertainty, heightened geopolitical tensions, and a rising demand for inflation-resistant stores of value. A sustained  surge in market cap occurred amid investor fears of new international trade tariffs, further validating gold’s role as a hedge in volatile markets. It is important to note that the quantity of inventory reflected in the attestation is of greater significance than the price, which remains subject to volatility.

Tether collaborates closely with US and international law enforcement agencies daily to ensure the integrity and transparency of its operations.

Macro Gold Market Trends

Gold has seen a significant rally over the past two years, bolstered by persistent central bank accumulation, particularly from BRICS nations seeking to diversify away from U.S. dollar dependency.

• Global Gold Reserves (2024 year-end): 37,755 metric tons
  
  
• Central Bank Net Purchases in 2024: 1,044.6 metric tons
  
  
• Q4 2024 Central Bank Gold Buying: 332.9 metric tons
  

Source: Gold Demand Trends: Full Year 2024, World Gold Council

This sustained accumulation reinforces the strategic importance of gold as a tool for preserving both national and individual wealth, especially in emerging and developing economies.

Tether Gold, a Lighthouse In The Global Ocean of Uncertainty and a Lifeline for Emerging Markets

While USD₮ remains widely adopted across emerging markets as a trusted stablecoin, Tether Gold (XAU₮) fulfills a parallel need: providing users with access to tokenized physical gold that upholds the same standards of compliance, security, and transparency. In regions historically reliant on gold as a hedge against inflation and political instability, XAU₮ offers a digital solution rooted in centuries of trust.

In contrast to non-compliant gold token offerings, which pose regulatory and operational risks, XAU₮ delivers legal certainty and verifiable physical backing (rather than paper gold backing), making it the premier choice for institutions, individuals, and platforms seeking stable exposure to gold via blockchain.

With central banks across the world — predominantly among the BRICS nations — stocking up enormous quantities of gold reserves in the wake of the launch of a digital currency backed by gold to challenge U.S. dollar hegemony, it has become clear that the global monetary landscape couldn’t be more unpredictable.

For this reason, at Tether, we believe in the fundamental strategic importance of our tokenized gold product, XAU₮. It combines the enduring value of gold with the efficiency of digital assets, all while adhering to strong regulatory and law enforcement compliance requirements. XAU₮ offers a reliable alternative in a time of growing uncertainty surrounding the stability of fiat currencies.

While Bitcoin is the most forward looking choice for the digital era, and Tether itself is probably the company investing the most resources in Bitcoin education, most of the world population has yet to learn about its unique value, an effort that will require still time, while gold has been serving as their family safety reserve currency for the last five thousand years XAU₮ is already familiar to many people—particularly in regions where inflation and economic uncertainty are pressing concerns. For those seeking stability, gold remains a trusted option. At the same time, we’re confident that awareness and understanding of Bitcoin will continue to grow with time, supported by our ongoing efforts and those of the broader industry.

“Tether Gold continues to demonstrate the strength and resilience of gold as a store of value, especially in times of economic uncertainty,” said Paolo Ardoino, CEO of Tether. “With XAU₮, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferrable, and backed 1:1 by fully held gold reserves. It’s part of our broader commitment to building financial tools that combine the best of traditional assets with the efficiency of blockchain technology.”

For further details, please refer to the latest XAU₮ attestation report here.