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Tether Gold
About Tether Gold
Tether Gold (XAUT) is a digital token representing ownership of one troy fine ounce of physical gold on a specific gold bar. It is a stablecoin tied to the value of gold, created by Tether, the company behind USDT. Tether aims to facilitate the use of fiat currencies digitally by creating tokens pegged to different assets. Tether Gold provides the stability of gold and the flexibility of cryptocurrency, allowing users to own gold without storage costs or handling inconveniences. XAUT can be used as a stable value store, means of transaction, and proof of digital gold ownership. It can be transferred to any on-chain address and diversifies a digital asset portfolio. Tether Gold is a project of Tether Ltd., founded by Reeve Collins, Craig Sellars, and Brock Pierce, part of the Tether Holdings Limited group.
Tether Gold (XAUT) is a gold-backed digital asset issued by TG Commodities Limited, a subsidiary of Tether. Each XAUT token represents one fine troy ounce of gold stored in London Good Delivery bars in Swiss vaults. XAUT is available as an ERC-20 token on Ethereum and a TRC-20 token on TRON, allowing users to hold and transfer ownership of gold digitally.
Tether Gold allows token holders to check which specific gold bars back their holdings using a public lookup tool provided by Tether. The asset is managed under the custodianship of third-party vault operators.
XAUT serves several functions within the digital asset ecosystem:
- Gold Ownership: Allows individuals to hold fractional or full ownership of investment-grade gold without requiring physical possession.
- Storage & Security: Provides a secure alternative to traditional gold investment by offering verifiable backing and storage in high-security vaults.
- Redemption for Physical Gold: Token holders can redeem their XAUT for gold bars and arrange for physical delivery to Switzerland or opt for ownership transfer.
- On-Chain Transfers: Enables the movement of gold-backed assets across Ethereum and TRON networks, allowing users to store and transfer their holdings digitally.