Tether Gold reserves reached a record $3.44 billion in September as investors increased their exposure to physical gold. The reserves grew 59% from December, reaching 827,418 fine troy ounces, equivalent to approximately 25.7 tonnes.
In a November 4 announcement, Tether reported that XAU₮ circulation stood at 827,417.63 tokens, closely matching its gold reserves. The company said holders added more than nine tonnes this year. Swiss vaults held 2,057 gold bars at the end of September, according to the announcement.
Swiss Gold Reserves Expand
The reserve value increased from $2.25 billion at year-end. Gold traded at $4,157.41 per ounce on September 30, reflecting the value used in the reserve report.
Related: Bitcoin, Silver, and Copper Flash Warning Signs of a Massive Market Sell-Off
Tether CEO Paolo Ardoino commented on the token’s gold backing, saying, “For thousands of years, owning gold meant trusting someone else to hold it. XAU₮ changes that.”
Tether Expands Beyond Gold
Tether has also expanded XAU₮ access through new trading services. In August, CoinDCX introduced XAU₮ trading and a recurring investment plan in India, starting at ₹100. The service gives Indian users another way to gain exposure to tokenized gold.
The company also filed seven South Korean trademark applications covering its name, logo and gold token. The filings concern a potential local presence as South Korea develops its crypto regulations.
Separately, Tether reported $1.5 billion in third-quarter profit and a $7.95 billion reserve buffer.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
