Tether has reported that its gold-backed stablecoin, Tether Gold (XAUT), has a total circulation of 246,524.33 XAUT as of the second quarter of 2025. This is equivalent to 246,524.38 troy ounces of physical gold, or approximately 7.66 tons, with a market value of around $814 million. The physical gold reserves backing XAUT are stored in Switzerland and comply with London delivery standards. Tether emphasized the growing importance of gold-backed digital assets like XAUT in providing a compliant on-chain gold solution amid global economic volatility.