XAUT (Tether Gold) is a gold-backed digital token launched in January 2020 by TG Commodities Limited, the same group behind the USDT stablecoin. Here is its complete current situation as of May 28, 2026.
🟠 Project Overview
· Token: 1 XAUT token represents one fine troy ounce of physical gold stored in Swiss vaults, adhering to the London Bullion Market Association's Good Delivery standards.
· Reserve Custody: The gold is held in Switzerland, with quarterly independent third-party verifications.
· Key People: Paolo Ardoino, CEO of Tether.
· Blockchains: Initially an ERC-20 token on Ethereum, XAUT has expanded to networks including Tron, Solana, BNB Chain, Mantle, Monad, and TON.
📊 Current Status (as of May 28, 2026)
· Price: ~$4,525 USD per token, with XAUT recently trading above $4,500 after hitting an all-time high of ~$5,500 in January 2026.
· Market Cap: ~$3.3 billion USD, up 36% in Q1 2026 alone.
· Circulating Supply: ~707,741 XAUT tokens at the end of Q1 2026.
· Reserves: Backed by ~707,747 troy ounces of gold (~22 tonnes), held independently from Tether's broader 154-tonne gold reserve (with ~132 tonnes of that used to back USDT).
📈 Recent News & Developments
· Trading Volume Explosion: XAUT set a daily perpetual futures volume record of **$6.40 billion** on March 23, 2026, with Bybit holding ~15.75% of global spot trading volume and Binance derivatives seeing dramatic growth from under $1.5 million daily in December 2025.
· Exchange Listings: Binance offers XAUT perpetual futures with up to 50x leverage, while Bybit provides spot, margin, and derivatives trading across multiple chains.
· Strategic Investments: Tether acquired a 12% stake in Gold.com for $150 million (Feb 2026) to integrate XAUT, with plans to enable physical bullion purchases using USDT.
· DeFi & Institutional Expansion: MetaComp Group launched XAUT for cross-border payments and gold-collateralized loans, while a multichain version (oXAUt) powered by Chainlink CCIP now operates on World Chain.
· Formal Audit: A formal KPMG audit commenced in March 2026, moving toward a full Big Four audit for the first time.
⚠️ Key Risk Factors
While XAUT is backed by physical gold, it's important to remember that Tether, as a company, has faced historical scrutiny regarding the transparency of its reserves. The gold backing XAUT, held in Switzerland, is subject to independent quarterly verification, though the move toward a Big Four audit is a notable step. As with all cryptocurrencies, market volatility remains.
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