Tether Gold reaches $1.3B market cap, joins crypto’s Top 100

Tether’s gold-backed stablecoin, XAUt, has crossed a new milestone, topping a $1.3 billion market capitalization and securing a place among the world’s top 100 digital assets by size.

Each XAUt token represents one troy ounce of gold stored in Swiss vaults, offering investors a blockchain-based way to hold the precious metal. Data from CoinGecko shows the token’s market cap at $1.35 billion, ranking it 99th globally, while Kraken lists a similar valuation.

The growth reflects rising demand for tokenized real-world assets at a time when investors are seeking alternatives to both volatile cryptocurrencies and traditional fiat-backed stablecoins. Earlier this summer, Tether CEO Paolo Ardoino highlighted XAUt’s accelerating adoption, noting that its user base had expanded more than 50% quarter-over-quarter as total supply passed the $1.2 billion mark.

Tether, best known for issuing the dollar-backed USDT, has steadily diversified its reserves into gold, energy projects and other assets. The company argues that gold, long seen as a hedge against inflation and currency devaluation, is a natural complement to Bitcoin in digital portfolios.