Tether’s gold-backed token XAUT launches on BNB Chain, with Binance spot trading

Tether says it has launched its gold-backed token, XAUT, on BNB Chain, expanding access to its gold exposure product. XAUT is designed as a 1:1 token for one fine troy ounce of physical gold stored in Swiss vaults (London Good Delivery bars), with backing confirmed via independent attestations. Tether reported holding 520,000+ troy ounces of gold as of end-2025. XAUT’s market scale is described as roughly a $2.5 billion market cap, making it the largest gold-backed token; the article also compares it with Paxos’ PAXG (around $2.3 billion). The move connects XAUT to BNB Chain’s user base and decentralized exchange liquidity, positioning gold as a tradable asset for digital markets. For trading, Binance has opened spot trading for XAUT pairs including USDT, BTC, FDUSD, USDC, and TRY after the XAUT listing on BNB Chain. With XAUT, Tether frames the expansion as faster global settlement and usability, rather than a change to the underlying gold backing. Bitcoin and broader stablecoin market context is also referenced via live price tickers, but the core development for traders is the new XAUT venue and pair availability on BNB Chain—potentially improving liquidity and routing for gold-token exposure.