Tether Gold

What Tether Gold does

Tether Gold (XAUT) is a tokenized gold product issued by TG Commodities, S.A. de C.V., a company that redomiciled from the British Virgin Islands to El Salvador in January 2025 and is now regulated as a digital asset service provider by El Salvador's National Commission of Digital Assets (CNAD). Each XAUT token represents direct ownership of one fine troy ounce of physical gold in the form of LBMA Good Delivery bars, held in allocated storage in a Swiss vault. The token is available as an ERC-20 on Ethereum and a BEP-20 on BNB Chain, providing 24/7 blockchain-native settlement and transferability. As of March 31, 2026, reserves stood at 707,747.139 fine troy ounces (approximately $3.3B), supporting cumulative trading volume above $10B since October 2025 and daily volumes exceeding $1B.

The product serves institutional counterparties, crypto-native holders, and high-net-worth users seeking exposure to physical gold without the operational friction of bullion custody, transportation, or authentication. The minimum primary issuance lot is 50 XAUT, indicating an institutional and high-value retail orientation. The product is explicitly unavailable to U.S. persons and residents of Cuba, North Korea, Iran, Syria, and Ukraine, fragmenting the addressable customer base across multiple regulatory jurisdictions.

Revenue is generated through a 0.25% fee on direct primary issuance and redemption, a $150 USDt verification fee per allocation/de-allocation request, and secondary fee arrangements with integration partners. Secondary market trading on exchanges does not accrue direct fee revenue to the issuer. The product holds 37% of the tokenized gold market, and the broader business model relies on scale of reserves and breadth of distribution (exchange listings, lending integrations, yield wrappers, and corporate treasury use cases) to drive primary issuance and fee revenue.

Name

Tether Gold

Legal name

TG Commodities, S.A. de C.V.

Website

https://gold.tether.to

Company type

Private

Founded year

2020

Operating status

Operating

Short description

Tether Gold (XAUT), issued by TG Commodities, S.A. de C.V., tokenizes physical gold on Ethereum and BNB Chain. Each token represents one fine troy ounce of LBMA Good Delivery gold stored in Swiss vaults, serving institutional and crypto-native users.

Ownership category

akta.pro rank

Product category

Tokenized Gold

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

RWA Tokenization Platforms (asset onboarding, structuring, issuance) (FSAPAIAC)

Keywords

• Tokenized gold
• Digital gold tokens
• Gold-backed stablecoin
• Physical gold tokenization
• Commodity-backed cryptocurrency

Headquarters

HQ city

San Salvador

HQ country

El Salvador

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Compliance/Regulatory, Marketing or Sales

Revenue model

1. Transaction Fees - Purchase: Tether Gold charges 0.25% fee on the purchase of XAU₵ tokens from TG Commodities, S.A. de C.V. The fee is calculated based on the price of one ounce of gold per token. Minimum purchase is 50 XAU₵.
2. Transaction Fees - Redemption: 0.25% fee plus applicable fees for redemption of XAU₵ tokens. Additional fees apply for physical delivery within Switzerland. Sale option through Swiss gold market may incur brokerage fees.
3. Verification Fees: Non-refundable verification fee of 150 USD in Tether tokens (USDt), intended to cover identity verification costs.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Tether Gold (XAUT) is a tokenized gold product issued on Ethereum (ERC-20) and BNB Chain (BEP-20), where each XAUT token represents one fine troy ounce of physical gold held in Swiss vaults and conforms to the LBMA Good Delivery standard. Customers can acquire XAUT directly from the platform (minimum 50 XAUT) or trade it on partner cryptocurrency exchanges, and can redeem tokens for physical gold or fiat. The platform operates KYC-gated onboarding for both individual and corporate accounts and charges a 0.25% fee on purchases and redemptions with no custody fees.

Product overview

Tether Gold offers a single tokenized gold product (XAU₮) that represents undivided ownership of one fine troy ounce of physical gold per token. The gold meets LBMA Good Delivery standards and is stored in Swiss vaults. XAU₮ tokens are available on Ethereum (ERC-20) and BNB Chain (BEP-20), with a minimum purchase of 50 XAU₮ directly from Tether Gold or smaller amounts on third-party exchanges including Bitfinex, BTSE, Gate.io, and BigOne. Users can redeem tokens for physical gold bars (minimum 430 tokens) or fiat currency (USD) through the platform. DeFi integrations with Ledn (collateral lending), Bybit (yield products), and XAUE (yield-bearing treasury layer) extend the product's utility beyond simple gold ownership.

Differentiator

Problem solved

Functional benefit

Products and services

• Tether Gold (XAUT) A digital token issued on Ethereum (ERC-20) and BNB Chain (BEP-20) where each XAUT token represents one fine troy ounce of physical gold conforming to the LBMA Good Delivery standard, stored in Swiss vaults. The product is offered to individual and corporate KYC-verified accounts, with a minimum purchase of 50 XAUT on the platform, a 0.25% purchase/redemption fee, a one-time 150 USDT verification fee, no custody fees, and the ability to redeem tokens for physical gold or fiat currency.

Quantifiable outcome

• 707,747 fine troy ounces of physical gold backing tokens in circulation
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• XAUE (Aurise Foundation)coreStrategic or Co-development Partner · 9 June 2026XAUE is a yield-bearing gold token built on Ethereum designed as Treasury Layer for Tether Gold (XAU₵), enabling crypto-native yield generation on traditionally non-yielding gold holdings. Ecosystem partners Aurelion and Antalpha jointly deposited approximately $76 million worth of XAU₵ into XAUE at launch.
• BybitcoreStrategic or Co-development Partner · 19 March 2026Bybit launched a yield-bearing product built around Tether Gold's XAUT token, enabling users to earn passive income while maintaining exposure to gold prices. Part of broader expansion into tokenized real-world asset products.
• Elemental Royalty CorporationminorStrategic or Co-development Partner · 17 February 2026Elemental Royalty introduced option for qualifying registered shareholders to elect to receive dividends in Tether Gold XAU₵ tokens, described as a world first for a royalty company.
• LedncoreStrategic or Co-development PartnerCrypto lender Ledn integrated Tether Gold (XAUT) as collateral for loans, marking one of the first platforms to offer gold-backed lending via a tokenized model. Each token represents one fine Troy ounce of physical gold held in Swiss vaults.
• BNB ChaincoreTechnology or IntegrationTether Gold is available as a BEP-20 token on BNB Chain alongside Circle's USYC, Franklin Templeton's iBENJI, and BlackRock's BUIDL as institutional RWA products on the network.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• BullionVault: BullionVault is an online marketplace that allows users to buy, sell, and store allocated physical gold. While not blockchain-based, it competes with Tether Gold as an alternative way for users to own fractional physical gold outside of traditional ETFs.
• Paxos Gold (PAXG): Paxos Gold is the leading direct competitor to Tether Gold, with each PAXG token representing one fine troy ounce of physical gold stored in Brink's vaults. Together, Pax Gold and Tether Gold control 89–95% of the tokenized gold market, making them the closest head-to-head comparable.
• Kinesis Gold (KAU): Kinesis Gold (KAU) is a gold-backed digital currency within the Kinesis Monetary System that is redeemable for physical gold. It targets analogous use cases including savings, payments, and digital gold ownership, competing directly with Tether Gold in the tokenized gold category.
• Perth Mint Gold Token (PMGT): Perth Mint Gold Token (PMGT) is a gold-backed digital token issued by Australia's Perth Mint and redeemable for physical gold. It competes with Tether Gold in the tokenized gold market and benefits from the credibility of a sovereign mint issuer.
• Atomyze: Atomyze is a Swiss-based tokenization platform offering tokenized precious metals including gold. Like Tether Gold, it leverages Swiss vault infrastructure and blockchain rails to provide fractional digital ownership of physical gold, making it a direct regional peer.
• Aurus Gold (AWG): Aurus Gold (AWG) is a tokenized gold product deployed across multiple blockchains, with each token backed by allocated physical gold in vaults. It uses the same fundamental model as Tether Gold—bringing physical gold on-chain for digital trading—making it a direct functional peer.

Broad incumbents

• 21Shares: 21Shares is a leading crypto ETP provider offering a broad range of digital asset products including gold-backed tokens. As a larger, more diversified incumbent, it overlaps with Tether Gold in offering regulated digital gold exposure to institutional and retail investors.
• SPDR Gold Shares (GLD): SPDR Gold Shares (GLD) is the world's largest gold ETF with tens of billions in AUM. As the dominant traditional gold investment vehicle, it represents the broad incumbent competitor that tokenized gold products like Tether Gold are gradually eroding.
• iShares Gold Trust (IAU): iShares Gold Trust (IAU) is a major gold ETF operated by BlackRock. It serves the same gold investment use case as Tether Gold through a traditional ETF wrapper and represents significant incumbent competition in gold investment products.
• WisdomTree Physical Gold: WisdomTree Physical Gold is a traditional gold-backed ETP that serves the same investment use case as Tether Gold through a regulated exchange-traded product structure. It represents broader incumbent competition from the established gold ETP industry.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tether Gold