According to the latest Coingecko metrics aggregating tokenized gold, the top ten gold-backed tokens boast a combined market cap of $3.71 billion — and Tether’s XAUT sits comfortably on the throne. Right beneath it shines Paxos’ PAXG, holding its own with a gleaming $1.31 billion market valuation.

Both XAUT and PAXG are pegged to the troy ounce value of one ounce of pure gold, keeping their shine in sync with the latest bullion prices. Meanwhile, smaller players like XAUM and XNK glimmer far below these titans, with market caps that barely register beside the heavyweights.

On Oct. 28, Tether dropped an attestation report from TG Commodities S.A. de C.V., the registered stablecoin issuer overseeing XAUT. The company’s stash of physical gold now totals 375,572.297 fine troy ounces, matching the 375,572.247 XAUT tokens in circulation. Tether emphasized that all reserves are safely stored in Switzerland, adhering to the prestigious London Good Delivery standards.

Additionally, the company still has room to sell 139,751.311 XAUT — a cache worth roughly $540 million at today’s gold exchange rates. “Tether Gold proves that real-world assets can thrive onchain without compromise,” Paolo Ardoino, the CEO of Tether, remarked.

Ardoino added:

“With gold prices at all-time highs and institutional interest in tokenized assets growing, XAUT represents the future of asset ownership, where physical security meets digital freedom.”

Over the past 24 hours, tokenized gold saw a modest $1 billion in trading volume — a mere 0.6% slice of the $172.565 billion traded across the broader crypto market. XAUT accounted for $381 million of that $1 billion total, while PAXG moved $490 million. And though tokenized gold products have glittered with growth in both issuance and value, they still look pint-sized next to their fiat-pegged cousins — the stablecoins.

• What did Tether’s latest XAUT attestation reveal?
  Tether’s Oct. 28 attestation confirmed $2 billion in gold-backed XAUT reserves securely held in Switzerland.
• How much gold backs Tether’s XAUT tokens?
  The report shows 375,572.297 fine troy ounces of physical gold matching 375,572.247 XAUT in circulation.
• Who verified Tether’s gold holdings?
  The attestation was issued by TG Commodities S.A. de C.V., a registered stablecoin issuer.
• How does XAUT compare to other tokenized gold assets?
  XAUT leads the $3.7 billion gold token market, outpacing Paxos’ $1.31 billion PAXG.

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