Latest news with #TetherGold
Yahoo
3 days ago
- Business
- Yahoo
Stablecoin Protocol USDT0 Aims to Bring Tokenized Gold Closer to DeFi
Stablecoin protocol USDT0 is giving tokenized gold a crypto native spin, aiming to make the world's oldest stores of value compatible with decentralized finance (DeFi) applications. The platform is introducing the XAUT0 token, which builds on Tether Gold (XAUT) but integrates an omnichain architecture to expand its utility for trading and as collateral on lending protocols. The token uses LayerZero's Omnichain Fungible Token (OFT) standard to move seamlessly across blockchains without relying on bridges or wrappers. Tether's XAUT corresponds to one troy ounce of gold stored in a Swiss vault, linked to a specific bar meeting London Bullion Market Association standards. It's also redeemable for physical gold. The new offering follows the protocol's first offering USDT0, a unified liquidity layer for Tether's USDT stablecoin that's available on ten blockchains including Arbitrum, Optimism and Kraken's Ink. Since launching earlier this year, the token ballooned to a $1.3 billion circulating supply. "I am a big bitcoin BTC guy myself," Lorenzo R., co-founder of USDT0 told CoinDesk in an interview. "But I also like gold and would love to have an easier and more straightforward way to acquire and actually be able to use it in my everyday life." "We are still very early when it comes to actual integration of real-world assets and commodities into DeFi protocols," he added. The token's first deployment will occur on The Open Network (TON), the blockchain powering popular messaging app Telegram's crypto features. Telegram users will be able to buy and use the gold-backed token directly within Wallet in Telegram, potentially introducing the tokenized asset to millions of users. TON was originally developed by Telegram, then continued as an independent operation after settling a lawsuit by the U.S. Securities and Exchange Commission (SEC) in 2020. A broader promotional rollout of XAUT0 to more blockchains is planned for Q3 this year. "There are multiple chains that we're going to be launching on, and some of these chains are going to have more DeFi spin to it," Lorenzo R. said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-04-2025
- Business
- Yahoo
Tether's $770M XAUT Backed by 7.7 Tons of Gold in Swiss Vault, Says Company
Tether's gold-backed stablecoin, Tether Gold (XAUT), reached a $770 million market capitalization as of April 28, according to the company's first attestation under El Salvador's financial regulations. "While central banks are stacking up hundreds of tons of gold, XAUt is set to become the standard tokenized gold product for the people and institutions," Tether CEO Paolo Ardoino posted on X. The token is backed 1:1 by 246,523.33 ounces — over 7.7 tons — of physical gold stored in a dedicated Swiss vault, said Tether. Each XAUT token represents one troy ounce of LBMA-certified gold. Tether said it applies strict controls, including gold bar verification and periodic audits, to maintain trust in the token's backing. The attestation comes at a time when global investors are increasingly turning to gold as a hedge against economic instability and rising geopolitical risks. Central banks, particularly across BRICS nations, have been buying gold at record levels, accumulating over 1,044 metric tons in 2024 alone, according to the World Gold Council. The yellow metal has touched numerous record highs in 2025 amid an ongoing rally that's seen its price gain about 27% year-to-date. It's currently trading at $3,343 per ounce, having more than doubled since November 2022. Tether emphasized that unlike other tokenized gold products, XAUT is physically backed and regulated, positioning it as a safer option for users wary of "paper gold" exposure. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
12-04-2025
- Business
- Yahoo
Tokenized Gold Surges Above $2B Market Cap as Tariff Fears Spark Safe Haven Trade
As gold prices blazed to new records, their digital counterparts are also on a tear, growing faster than most other crypto sectors. As risk assets including cryptocurrencies struggled on Thursday amid tariff uncertainties, tokenized gold once again emerged as an outperformer in the carnage. The market capitalization of gold-backed tokens swelled above $2 billion to a new record on Friday, up 5.5% over the past 24 hours, according to CoinGecko data. The rise coincided with the yellow metal rallying to a fresh all-time high of $3,240/oz, TradingView shows. Alongside the price rally, gold tokens experienced a frenzy of activity and demand over the past weeks, fueled by the broader market turmoil. Weekly tokenized gold trading volume surpassed $1 billion, the highest since the U.S. banking turmoil of March 2023, according to a report by digital asset platform The two largest tokens, Paxos Gold (PAXG), Tether Gold (XAUT), making up the bulk of the tokenized gold market, saw their weekly trading volumes surging over 900% and 300%, respectively, since January 20, according to the report citing CoinGecko data. PAXG also experienced continuous inflows totalling $63 million during this period, DefiLlama data shows. The rally tracks the broader gains in physical gold, which posted double-digit increases in 2025 amid geopolitical uncertainty and inflation concerns. However, even gold wasn't spared during the market-wide sell-off triggered by U.S. tariffs, with prices briefly dropping 6% before quickly recovering to record highs. Since Trump's inauguration, tokenized gold has been one of crypto's top performing sectors, with its market cap up 21%, the report noted. By contrast, stablecoins gained a more modest 8% in market cap, while bitcoin declined 19% and the total crypto market lost 26%. 'Tokenized gold is emerging as one of the key diversification strategies among crypto-native users, alongside bitcoin," wrote Alexandr Kerya, VP of product management at "It provides a safer and more stable approach to portfolio management, enabling users to stay within the crypto ecosystem while benefiting from the value and stability of the underlying physical asset.' "At the same time, the broader RWA narrative helps make gold exposure more accessible and intuitive for users who may not have considered it before," Kerya added. UPDATE (April 11, 15:54 UTC): Updated gold price and tokenized gold market capitalization. Updates 1st graf. Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
12-04-2025
- Business
- Yahoo
Tokenized Gold Nears $2B Market Cap as Tariff Fears Spark Safe Haven Trade
As risk assets including cryptocurrencies struggled on Thursday amid tariff uncertainties, tokenized gold once again emerged as an outperformer in the carnage. The market capitalization of gold-backed tokens swelled to just under $2 billion on Wednesday, up 5.7% over the past 24 hours, according to CoinGecko data. The rise coincided with the yellow metal briefly touching a fresh all-time above $3,170/oz, TradingView shows. Alongside the price rally, gold tokens experienced a frenzy of activity and demand over the past weeks, fueled by the broader market turmoil. Weekly tokenized gold trading volume surpassed $1 billion, the highest since the U.S. banking turmoil of March 2023, according to a report by digital asset platform The two largest tokens, Paxos Gold (PAXG), Tether Gold (XAUT), making up the bulk of the tokenized gold market, saw their weekly trading volumes surging over 900% and 300%, respectively, since January 20, according to the report citing CoinGecko data. PAXG also experienced continuous inflows totalling $63 million during this period, DefiLlama data shows. The rally tracks the broader gains in physical gold, which posted double-digit increases in 2025 amid geopolitical uncertainty and inflation concerns. However, even gold wasn't spared during the market-wide sell-off triggered by U.S. tariffs, with prices briefly dropping 6% before quickly recovering to record highs. Since Trump's inauguration, tokenized gold has been one of crypto's top performing sectors, with its market cap up 21%, the report noted. By contrast, stablecoins gained a more modest 8% in market cap, while bitcoin declined 19% and the total crypto market lost 26%. 'Tokenized gold is emerging as one of the key diversification strategies among crypto-native users, alongside bitcoin," wrote Alexandr Kerya, VP of product management at "It provides a safer and more stable approach to portfolio management, enabling users to stay within the crypto ecosystem while benefiting from the value and stability of the underlying physical asset.' "At the same time, the broader RWA narrative helps make gold exposure more accessible and intuitive for users who may not have considered it before," Kerya added. Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
06-04-2025
- Business
- Yahoo
Gold-backed tokens slide as 'Liberation Day' tariffs put markets in meltdown
Gold-pegged cryptocurrencies Paxos Gold (PAXG) and Tether Gold (XAUT) eased from all-time peaks on Friday after a global financial market rout erased $2.5 trillion from shares in the United States. On April 1, gold hit a historical milestone its all-time high of $3167. Following on the heel of gold's all-time high, both tokens spiked on safe-haven demand initially. PAXG surged to an all-time high of $3,191 while XAUT climbed to $3,190, both above spot gold's high. However, the momentum was weak. PAXG dropped to $3,074 and XAUT to $3,064, mirroring spot gold's decline to $3,038 per ounce. The drop came after President Donald Trump announced reciprocal tariffs that unnerved investors and set off one of the sharpest stock market declines in years. Goldcoin (GLC) — yet another gold-pegged cryptocurrency — also displayed abnormal price volatility. It rose more than 17% in the past 24 hours, trading at $0.01056 at the last check. Its 24-hour trading volume rocketed 2800% higher, but from a low base. Although it is on an upward streak, GLC has one of the highest storage fees in the industry, at 0.6%, which could make it less attractive for long-term holders. Meld Gold (MCAU) maintained a relatively steady price of $57.66, up only 1.39% on the day after months of sideways action. Analysts like Peter Schiff find that while gold acts as a hedge in such uncertain times, sizeable losses and sell-offs on-equity markets often lead to the liquidation of even safe-haven assets to meet margin calls or stem wider portfolio drawdowns. On April 1, Schiff said, 'Today, as economic uncertainty spooks investors, they're again dumping stocks, but gold is rising. Gold has replaced Treasuries as the global safe haven. The implications are ominous' on X. According to the latest data, the market capitalization of leading tokenized gold cryptocurrencies is about $1.59 billion, with a 24-hour trading volume of about $113.7 million. This is a 1.93% decrease in the overall market cap and a 43.25% decrease in 24-hour trading volume.
