Key Takeaways:
- Tether launched XAUt0, an omnichain gold-backed stablecoin on TON, using LayerZero’s OFT standard for cross-chain functionality.
- The new XAUt0 expands Tether’s presence beyond Ethereum, while the original XAUt remains the largest gold-backed stablecoin with over $832M market cap.
- XAUt0 debuts amid rising gold interest, with prices hitting $3,304/oz and ETFs gaining over 25% YTD.
Tether has launched XAUt0, an omnichain version of its gold-backed stablecoin, on The Open Network (TON) in partnership with the TON Foundation.
Built using LayerZero’s Omnichain Fungible Token (OFT) standard, XAUt0 enables seamless cross-chain transfers without relying on wrapped tokens or intermediaries.
🚨 Tether Gold (XAUt) is now LIVE on TON through XAUt0
— TON 💎 (@ton_blockchain) June 2, 2025
Congratulations to @Tether_to, @usdt0_to, @topdotco and TON!
XAUt0 is a gold-backed, inflation-resistant on-chain asset combining the advantages offered by physical gold with the opportunities of blockchain technology.
Now… https://t.co/u9jmPtXtxI
This release expands Tether’s gold-backed offerings beyond Ethereum, where its original token, XAUt, remains the market leader with over $832 million in capitalization.
Each token is backed by one troy ounce of physical gold, securely stored in a Swiss vault.
XAUt0 follows Tether’s earlier deployments of USDt0 and USDt on TON, highlighting the company’s growing commitment to the TON ecosystem.
The launch coincides with rising global demand for gold amid economic uncertainty.
Gold prices surged 29.5% over the past year, reaching $3,304 per ounce by May 30, while major gold ETFs have posted strong gains in 2025.
Positioned at the intersection of crypto and commodities, XAUt0 is poised to compete with both traditional gold ETFs and rival gold-backed tokens like Paxos’s PAXG, which has a market cap of $811 million.
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