Tether Expands XAUT Gold-Backed Token to BNB Chain
- Tether launched its gold-backed token, XAUT, on BNB Chain, enhancing access to the leading tokenized gold product.
- XAUT is the largest gold-backed token with a market cap of nearly $2.5 billion, representing almost half of the $5.3 billion tokenized gold market.
- Each XAUT token corresponds to one fine troy ounce of physical gold stored in Swiss vaults as London Good Delivery bars.
- Binance has opened spot trading for XAUT pairs including USDT, Bitcoin, FDUSD, USDC, and TRY.
- Gold prices peaked above $5,500 in January but have recently decreased to around $4,442.
Tether’s launch of XAUT on BNB Chain connects a vast ecosystem to the dominant gold-backed token, offering enhanced liquidity and accessibility in digital markets. The move comes amid fluctuating gold prices and growing interest in stable assets.
The integration with BNB Chain aims to make physical gold more accessible and usable within modern financial systems through digital means while maintaining direct exposure to the asset’s value (Source).
