Tether has deployed its gold-backed token, XAUt, on BNB Chain in a strategic move to broaden the accessibility of tokenized bullion. This expansion comes alongside Binance’s listing of XAUt for spot trading against several prominent cryptocurrencies and fiat tokens, drawing fresh attention during a period of heightened gold price volatility and surging demand for real-world asset integration in crypto markets.
Tokenized Gold Gains Ground In Crypto Ecosystem
XAUt represents a digital token backed by physical gold and issued by Tether, known for its stablecoins and significant influence in digital asset markets. Tether’s latest move sees XAUt tradeable on the BNB Chain, a prominent blockchain network designed for scalability and low-cost transactions, operated by Binance’s ecosystem. This development now allows users to access XAUt through Binance’s spot trading platform with pairs including USDT, BTC, USDC, and the Turkish lira.
The BNB Chain network revealed that XAUt carries a market capitalization close to $3.2 billion, supported by about 1,800 gold bars secured in Swiss vaults. This makes XAUt a dominant force in the tokenized gold segment, controlling an estimated 60% share of global gold-backed stablecoins. BNB Chain itself ranks as the second largest network for real-world asset (RWA) value, highlighting its growing role in bridging tangible assets with blockchain technology.
Volatility In Precious Metals Spurs Platform Innovation
Recent months have seen significant price swings in gold, with spot prices climbing to a historic peak of $5,595 per ounce in January before sliding to around $4,450 by late March. The sharp drop followed heightened geopolitical tensions and increased oil prices, with the broader macroeconomic situation—rising inflation and a stronger U.S. dollar—further pressuring gold valuations. These changes have prompted crypto platforms to adapt quickly, extending gold-linked trading products to meet the rising interest from investors seeking safe-haven assets and diversified exposure.
Crypto.com, a global exchange platform, responded to this heightened activity by introducing perpetual contracts linked to tokenized gold in addition to spot trading in both XAUt and competitor product PAXG. These offerings enable users to pursue leveraged strategies on gold’s price movements, operating 24/7 within digital asset exchanges alongside traditional crypto tokens.
Tether’s expansion into BNB Chain harnesses this innovative momentum, positioning XAUt at the intersection of blockchain efficiency and traditional commodity backing. The new listing provides a gateway for crypto traders, investors, and institutions to move seamlessly between digital and physical asset classes.
Paolo Ardoino, Tether’s CEO, described the rollout of XAUt on BNB Chain as aiming to enhance the practical use of gold in digital markets, tying the utility of blockchain with globally recognized value stores. The coinciding activation of XAUt spot markets on Binance strengthens trading access for a wider crypto audience.
