Stablecoin Giant Expands Gold-Backed Offering

Tether has partnered with the TON Foundation to introduce an omnichain version of its gold-pegged stablecoin XAUt on The Open Network. This strategic move aims to extend the token's reach across multiple blockchain ecosystems while maintaining its physical gold backing.

Technical Breakthrough in Asset Transfer

The newly launched XAUt0 token utilizes LayerZero's Omnichain Fungible Token standard, enabling seamless cross-chain transfers without requiring wrapped tokens or intermediary chains. This technological advancement positions Tether's gold offering as the first fully interoperable digital gold asset in the cryptocurrency market.

Market Dominance and Physical Backing

With 【$832 million】 in market capitalization, XAUt currently leads the tokenized gold sector, slightly ahead of Pax Gold's 【$811 million】 valuation. Tether's Q1 2025 attestation reveals the company holds 【7.7 tons】 of physical gold in Swiss vaults to back each XAUt token, with one token representing one troy ounce of the precious metal.

Strategic Pattern in Token Deployment

This launch follows Tether's April 2024 introduction of USDt on TON and mirrors its cross-chain USDT0 deployment across Optimism's Superchain. ——The company appears to be executing a systematic multi-chain expansion strategy—— for both its dollar and gold-backed stablecoins.

Gold's Resurgence Amid Economic Volatility

The precious metal has seen remarkable growth, with prices surging 【29.5%】 year-over-year to reach 【$3,304】 per ounce on May 30. Gold ETFs have similarly performed strongly, with top funds gaining over 【25%】 year-to-date. Tether's omnichain gold token now enters this competitive landscape as a blockchain-native alternative to traditional gold investment vehicles.

Why Does Cross-Chain Gold Matter?

The XAUt0 launch addresses growing demand for gold exposure in decentralized finance while solving interoperability challenges. By eliminating the need for wrapped tokens, Tether reduces counterparty risk and simplifies gold transactions across blockchain networks—a significant advancement for institutional and retail investors alike.

Future Implications for Digital Assets

This development signals Tether's ambition to bridge traditional and crypto markets. With physical commodities becoming increasingly tokenized, the line between conventional finance and blockchain ecosystems continues to blur, potentially reshaping how global investors access gold markets.