Tether Gold Market Cap Doubles to ¥320 Billion Amid Rising Gold Prices

Leading stablecoin issuer Tether has released the third-quarter certificate for its gold-linked token 'Tether Gold (XAUT)'. According to TG Commodities based in El Salvador, each token is fully backed by physical gold stored in Switzerland, with reserves as of September 30 totaling 375,572 troy ounces, approximately $1.44 billion (¥220 billion).

The company reported that 522,089 XAUT are in circulation, with an additional 139,751 tokens available for sale. In October, gold prices reached record highs, driven by inflation concerns, geopolitical instability, and increased demand from central banks...