Tether has extended its gold-backed digital asset XAUt to BNB Chain, accompanying the announcement that Binance now lists XAUt for spot trading against several top pairs including USDT, BTC, USDC, and TRY. This development offers crypto investors expanded on-chain access to tokenized gold products at a time of renewed volatility in precious metals markets.
XAUt Deployment Widens Gold Availability Onchain
Created by Tether, XAUt represents a digital token pegged to physical gold holdings, with each unit backed by allocated bars housed in Swiss vaults. Tether, known primarily for its USDT stablecoin, has sought to diversify its onchain offerings by tying XAUt directly to gold reserves. The move towards BNB Chain broadens the token’s accessibility, making it easier for traders to add gold exposure alongside digital assets.
Binance, one of the largest global cryptocurrency exchanges, confirmed that spot trading for XAUt is now active on its platform in multiple quote asset pairs. This integration places XAUt within reach of millions of Binance users, allowing direct swaps between gold-backed tokens and core cryptocurrencies within existing trading portfolios.
Market Size And Infrastructure Growth
Market data indicates that XAUt currently holds a market capitalization close to $3.2 billion, underpinned by approximately 1,800 gold bars stored securely in Swiss vaults. Sector research has estimated that XAUt accounts for about 60% of worldwide gold-backed stablecoin value, cementing its position as the leading tokenized gold product.
The BNB Chain network is widely regarded as the second-largest blockchain platform for real-world asset (RWA) tokens by total distributed value. In recent weeks, BNB Chain has reported an uptick in both asset inflows and new account holders, suggesting growing interest in diversified onchain investment options. XAUt’s expansion on the network is expected to further support this trend, integrating traditional precious metals with decentralized financial markets.
Gold Price Volatility Stimulates Tokenized Bullion Demand
Earlier this year, spot gold prices surged to a new high of $5,595 per ounce before declining to around $4,450 by late March. This downswing followed a sharp rally amid geopolitical turbulence and coincided with broader shifts in financial sentiment caused by fluctuating oil prices, inflationary pressures, and the strength of the US dollar. Since late February, gold has dropped over 15%, prompting increased market activity around hedged and leveraged gold products.
Major crypto trading platforms have responded by widening their tokenized gold offerings. Crypto.com, a prominent digital asset exchange, recently launched perpetual contracts tied to tokenized gold, in addition to its spot trading support for XAUt and competitor product PAXG. These instruments provide users with around-the-clock means to gain leveraged or direct exposure to gold price movements on blockchain infrastructure.
Highlighting the motivation behind the latest network integration, Tether CEO Paolo Ardoino characterized the BNB Chain launch as an initiative to enhance gold’s functionality within digital markets. He emphasized that the company’s intention is to increase gold’s flexibility and accessibility for onchain investors and traders.
Paolo Ardoino noted that the decision to introduce XAUt on BNB Chain is designed to extend the utility of gold in the crypto space while facilitating broader adoption of tokenized real-world assets among digital asset portfolios.
