As gold prices rose to new highs, Tether Gold (XAUt) achieved a major milestone, with its market cap breaking over $1 billion. This marks XAUt as the second-largest tokenized gold product to reach this level after Paxos’ PAXG.
According to data by rwa.xyz, XAUT has reached a market capitalization of $1,053,158,858, while spot gold trading for more than $3,800 per ounce, marking a 19.90% increase over the past 30 days. Each token carries a Net Asset Value (NAV) of $3,862, reflecting an 8.51% rise from the previous month, while the current price per token stands at $3,865, closely aligning with gold market prices.
XAUt is a digital asset issued by Tether and is backed by real gold. It gives investors a way to invest in gold through blockchain technology without having to deal with the problems that come with owning it directly. There is one fine troy ounce of gold stored safely in Swiss vaults for every XAUt token. The token’s value is directly tied to the price of gold, making it a clear and easy way to invest in the precious metal. In September 2025, the combined trading volumes of XAUt and PAXG reached over $3.2 billion.
Tether is best known for USDT, the world’s largest stablecoin. It also offers blockchain-based versions of both fiat currencies and physical assets. In September, Tether announced the launch of a new U.S.-regulated stablecoin called USAT.
The announcement was made at an event in New York City, where Tether also said that USAT is designed to obey all the rules rolled out by the Genius Act. Recently, Tether announced integration of USAT to the Rumble platform to reach out to more users. The goal of this partnership is to get USAT in front of more people by using Rumble’s user base to promote the new stablecoin.
Also, Tether is reportedly getting ready for a big capital raise. According to CEO Paolo Ardoino, the company is looking into a funding round that would give it a value of about $500 billion. The plan is to sell a 3% stake through a private placement, which could bring in between $15 and $20 billion.
