Overview
- Tether reports more than 375,000 fine troy ounces backing XAU₮, with each token representing one fine troy ounce held in Switzerland.
- TG Commodities issues the token under El Salvador’s digital-asset framework, with London Good Delivery custody and the option to redeem bars to a Swiss address.
- XAU₮’s market value jumped from about $1.44 billion at the end of Q3 to roughly $2.1 billion in late October as gold prices neared record highs around $4,500 per ounce.
- CEO Paolo Ardoino attributes growth primarily to retail buyers in emerging countries alongside rising institutional interest in tokenized assets.
- XAU₮ and PAX Gold control the majority of the roughly $3.7 billion tokenized-gold market, while moves like the Aurelion treasury vehicle point to growing institutional adoption.