Tether’s XAUt tokenized gold now accounts for more than half of the gold-backed stablecoin market as the US dollar weakens amid renewed safe-haven demand.
The market for tokenized gold is expanding in step with rising demand for physical bullion, highlighting a broader shift toward traditional safe-haven assets as geopolitical tensions and trade uncertainty push investors away from the US dollar.
On Monday, Tether said its Tether Gold (XAUt) now represents more than half of the entire gold-backed stablecoin market, with a total value exceeding $2.2 billion.
Tether disclosed that 520,089 XAUt tokens were in circulation at the end of the fourth quarter, with each token backed one-for-one by physical gold held in reserve.
