Tether is deepening its involvement within the tokenized gold area by introducing a brand new model of its gold-backed stablecoin—XAUt0—on The Open Community (TON).
Designed to maneuver seamlessly throughout a number of blockchains, XAUt0 leverages LayerZero’s omnichain expertise to remove the necessity for bridges or token wrapping.
The initiative, developed in collaboration with the TON Basis, goals to convey decentralized finance and gold-backed digital funds to Telegram’s rising consumer base. This marks Tether’s second main deployment on TON, following the sooner launch of USDt in April.
XAUt0 is positioned as a cross-chain improve to Tether’s present XAUt token, which till now was confined to Ethereum. Every token is backed by one troy ounce of bodily gold saved in Swiss vaults, with Tether holding 7.7 tons of reserves, in response to its Q1 2025 disclosure.
With gold buying and selling close to all-time highs amid rising international tensions, Tether is looking for to seize demand from each conventional gold traders and the on-chain group. TON is the primary blockchain to assist XAUt0, however broader adoption is predicted as omnichain compatibility expands.
The launch additionally comes as Tether’s XAUt and Paxos’ PAXG stay neck and neck in market cap—$832 million and $811 million respectively—underscoring the race to dominate digital gold.
