Stablecoin Giant Tether Expands Leading Gold-Backed Token to BNB Chain

Tether said Thursday that it has launched its gold-backed token XAUT connected BNB Chain, expanding entree to the ascendant tokenized golden merchandise aft the precious metallic soared to caller terms heights successful caller months.

The listing connects BNB Chain's ecosystem to XAUT, which is the largest gold-backed token connected the marketplace with a astir $2.5 cardinal marketplace cap, arsenic of this writing. That’s astir fractional the full tokenized golden market, which presently sits astatine $5.3 billion, per information from CoinGecko. Paxos’ PAX Gold isn’t acold down XAUT with a marketplace headdress astir $2.3 billion.

Originally launched connected Ethereum, each XAUT token represents 1 good troy ounce of carnal golden held successful Swiss vaults arsenic London Good Delivery bars, with 1:1 backing confirmed by autarkic attestations. Per Tether’s latest attestation report, the steadfast held implicit 520,000 troy ounces of golden arsenic of the extremity of 2025.

Leading crypto speech Binance—which launched the BNB token and BNB Chain network—has opened spot trading for XAUT pairs including USDT, Bitcoin, FDUSD, USDC, and TRY.

“People recognize gold. They spot it due to the fact that it has held worth for millennia,” said Tether CEO Paolo Ardoino, successful a statement. “With XAUT, we are not changing what golden is; we are making it usable successful a modern fiscal system. You inactive person nonstop vulnerability to carnal gold, but present it tin determination instantly, settee globally, and integrate seamlessly with integer markets.

“Listing connected BNB Chain expands that entree to hundreds of millions of users,” helium added, “bringing golden into a strategy wherever it tin really beryllium used, not conscionable held.”

ETF Giant Challenges Tether and Paxos With Framework for Tokenized Gold

The terms of golden peaked supra $5,500 successful precocious January and was inactive supra the $5,000 level earlier this month, but has since ticked down to a recent terms of $4,442, falling astir 15% successful the past month. Users connected prediction marketplace Myriad—which is operated by Decrypt's genitor company, Dastan—remain bullish connected the asset, giving a 64% accidental that it volition adjacent emergence to $4,900 alternatively than autumn to $3,700.

Tether is the steadfast down USDT, the starring dollar-pegged stablecoin with an $184 cardinal marketplace headdress and caller regular trading measurement supra $64 billion. Earlier this week, the institution said that it has secured a “Big Four” accounting firm for the archetypal clip to execute a afloat autarkic audit connected USDT reserves, but has yet to place the steadfast successful question.