Tether has launched its gold-backed token, XAUt, on BNB Chain, moving to broaden user access to tokenized gold within the cryptocurrency ecosystem. Binance, one of the world’s largest digital asset exchanges, listed XAUt for spot trading with major pairs including USDT, BTC, USDC, TRY, and U, integrating tokenized bullion into established crypto trading environments.
Tokenized Gold Access Expands via Tether and BNB Chain
Tether is a blockchain-based platform known primarily for USDT, the leading stablecoin by market capitalization. XAUt, its gold-backed product introduced in 2020, represents ownership of physical gold bars. With the addition of XAUt to BNB Chain—an Ethereum-compatible network supported by Binance—Tether aims to extend the utility and reach of its digital gold token.
The launch coincided with Binance’s immediate spot market listing of XAUt in several prominent trading pairs, providing crypto traders with new options for gold exposure within their portfolios. The integration also offers multi-pair liquidity, facilitating easier asset movements between gold and major cryptocurrencies for users on Binance.
Stablecoin Dominance and Onchain Gold Backing
At present, XAUt’s market capitalization is estimated at around $3.2 billion, backed by approximately 1,800 gold bars secured in Swiss vaults. Data over recent months has shown XAUt controlling a significant share of the global tokenized gold sector, with some reports placing its share at 60% of the overall market for digital gold-linked stablecoins.
The BNB Chain network, as of now the second-largest blockchain platform by distributed real-world asset (RWA) value, has highlighted its role in increasing tokenized asset adoption due to recent inflows and new holders. With XAUt’s expansion into this ecosystem, Tether effectively grows its gold token’s reach across an active and rapidly developing blockchain environment, solidifying its leading position in the space.
Volatility in Gold Markets Spurs Digital Asset Growth
Global gold prices have experienced notable fluctuations since the start of the year. Spot prices reached as high as $5,595 per ounce in January amid rising geopolitical tensions, before retracting to around $4,450 by March 26. Since February 28, gold values have dropped over 15%, with factors such as elevated oil prices, persistent inflationary pressures, and economic developments exerting downward influence.
The increased volatility has accelerated demand for digital trading options that combine traditional assets with crypto infrastructure. Crypto.com, another major digital asset platform, has responded by supporting perpetual contracts linked to tokenized gold as well as spot trading pairs based on XAUt and competing gold tokens like PAXG.
Such offerings now enable users to access around-the-clock leveraged positions in gold without relying solely on traditional markets. Within these exchanges, traders can seamlessly shift between cryptocurrencies and gold exposure, an option not widely available in legacy financial systems.
Describing the BNB Chain launch, Tether CEO Paolo Ardoino characterized the move as highly focused on utility.
Ardoino stated that expanding XAUt is designed “to make gold more usable in digital markets,” emphasizing the strategic importance of the Binance listing for increasing market accessibility.
