Update (June 3, 9:15 am UTC): This headline and the article have been updated to correct the information about the issuer of XAUt0.
USDT0, the unified liquidity network for Tether’s US dollar–pegged stablecoin, USDt, has launched an omnichain version of Tether’s gold stablecoin, XAUt.
USDT0 on June 2 officially announced the launch of XAUt0, a new stablecoin built on LayerZero’s Omnichain Fungible Token standard, enabling crosschain transactions without wrapping or middlechains.
The new XAUt0 token follows the model of Tether-linked USDT0 (USDT0) stablecoin, which represents the omnichain version of Tether’s USDt (USDT).
XAUt0 will initially launch on the Open Network (TON), in collaboration between USDT0 and the TON Foundation.
XAUt is the largest gold stablecoin
XAUt, the token’s non-omnichain version, is the largest gold stablecoin by market capitalization, with over $832 million, according to CoinGecko. It is closely followed by Paxos’s Pax Gold (PAXG), which holds a market cap of $811 million as of June 2. XAUt is available only on the Ethereum blockchain.
Tether has more than 7.7 tons of physical gold backing the XAUT stablecoin, according to the company’s Q1 2025 attestation report. Each XAUt token represents one troy ounce of the global asset, which is reportedly being stored in a Swiss vault.
USDT0’s XAUt0 launch comes months after the network introduced the USDT0 stablecoin, a crosschain dollar-backed stablecoin deployed across Optimism’s Superchain, an ecosystem that has at least eight blockchains.
Related: Tether launches gold-backed, US dollar stablecoin Alloy
XAUt0’s initial availability on the TON blockchain comes amid growing collaboration between Tether and TON’s ecosystems. Tether deployed USDt onto the TON blockchain in April 2024.
Gold rises backed by economic uncertainty
Gold is considered a safe-haven asset and, in 2025, has experienced a steep appreciation in price due to economic uncertainty, particularly due to ongoing global trade wars.
Gold’s price was at $3,304 per ounce on May 30, up $2,327 from a year ago — a 29.5% jump in 12 months. In addition, Gold exchange-traded funds (ETFs) have experienced significant gains year-to-date, with the eight top funds by total assets experiencing increases of more than 25%.
Gold ETFs are a popular way to trade the asset. Tether’s omnichain gold token will compete with similar ETFs and other traditional gold investment instruments.
Additional reporting by Helen Partz.
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