Tether announced Thursday that it has launched its gold-backed token, XAUT, on the BNB Chain network. This expansion brings the leading tokenized gold product to a broader ecosystem following recent price surges in precious metals. The listing connects BNB Chain users to XAUT, which holds a market cap nearing $2.5 billion.
According to data from CoinGecko, XAUT accounts for nearly half of the total tokenized gold market. Paxos’ PAX Gold follows closely with a market cap around $2.3 billion. Binance, which operates the BNB token and network, has opened spot trading for XAUT pairs including USDT and Bitcoin.
Market Infrastructure and Backing
Originally launched on Ethereum, each XAUT token represents one fine troy ounce of physical gold held in Swiss vaults. Independent attestations confirm a 1:1 backing with London Good Delivery bars. Per Tether’s latest report, the firm held over 520,000 troy ounces of gold as of the end of 2025.
CEO Paolo Ardoino emphasized the stability of the asset in a statement released by the company. He stated that people trust gold because it has held value for millennia. Ardoino explained that the project makes gold usable in a modern financial system.
"People understand gold. They trust it because it has held value for millennia," Tether CEO Paolo Ardoino said.
He noted that users gain direct exposure to physical gold with instant global settlement. The CEO added that listing on BNB Chain expands access to hundreds of millions of users. Bringing gold into a system where it can actually be used remains the primary goal.
Market Sentiment and Commodity Prices
The price of gold peaked above $5,500 in late January and was still above the $5,000 level earlier this month. It has since ticked down to a recent price of $4,442, falling nearly 15% in the last month. Users on prediction market Myriad remain bullish on the asset.
They give a 64% chance that it will next rise to $4,900 rather than fall to $3,700. Tether is the firm behind USDT, the leading dollar-pegged stablecoin with an $184 billion market cap. Recent daily trading volume for USDT exceeded $64 billion.
Earlier this week, the company said that it has secured a Big Four accounting firm for the first time. The firm performed a full independent audit on USDT reserves. Tether has yet to identify the specific accounting firm in question.
This move highlights the growing integration of real-world assets into blockchain infrastructure. Tokenized gold offers a bridge between traditional finance and decentralized networks. Analysts watch for further regulatory clarity in this sector.
Future developments may include additional chain integrations for XAUT beyond BNB and Ethereum. Investors will monitor how stablecoin issuers adapt to compliance requirements. The expansion signals confidence in the tokenized asset class.
