Tether Brings Gold-Backed Stablecoin to Telegram’s Blockchain

Tether has rolled out XAUt0, an omnichain gold-backed stablecoin, on The Open Network (TON), expanding its digital commodities offering as interest in tokenized gold surges. Powered by Layerzero’s Omnichain Fungible Token (OFT) framework, XAUt0 allows seamless movement across blockchains without wrapping or middlechains.

This follows Tether’s deployment of USDt on TON last month and taps into Telegram’s vast user base, making XAUt0 usable in DeFi apps and peer-to-peer payments. The move positions TON as a growing hub for asset-backed tokens.

XAUt0 is anchored by Tether’s XAUt, the largest gold stablecoin by market cap, backed by one troy ounce of gold stored in a Swiss vault. The token’s launch comes as gold hits record highs, with a 30% year-on-year gain and strong inflows into top gold ETFs.

By bringing XAUt0 to TON, Tether is bolstering TON’s utility and directly challenging traditional gold ETFs and rival digital assets. Additional blockchain support for XAUt0 is expected soon.

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