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Tether has launched a shiny new token called XAUt0 on the TON blockchain. It’s a gold-backed stablecoin—just like its older sibling XAUt—but now it’s omnichain. That means it can move between blockchains without needing to be wrapped like a burrito.
This new token was built using LayerZero’s fancy Omnichain Fungible Token (OFT) standard. So no middlechains, no fuss.
XAUt is already the biggest gold-backed stablecoin, with over $832M in market cap. Its biggest rival? Paxos’s Pax Gold, sitting close behind at $811M. But unlike XAUt, which lives only on Ethereum, XAUt0 can explore the multichain world.
Every XAUt represents one troy ounce of physical gold. According to Tether’s 2025 Q1 report, that gold is stashed safely in Swiss vaults—because where else would you keep $3,000+ per ounce?
Tether is following the same playbook it used for USDT0—its omnichain dollar stablecoin already zipping across Optimism’s Superchain. That one connects at least 8 blockchains like it’s the Avengers of DeFi.
Oh, and in case you missed it: Tether also dropped USDt onto the TON blockchain in April 2024.
Why now? Because gold is hot again. Thanks to global trade drama and economic anxiety, it’s up 29.5% from last year—now around $3,304 per ounce. Gold ETFs are also glowing, with top funds gaining over 25% in 2025.
So, will XAUt0 be the digital gold king? We’re about to find out.
Footnotes:
Troy ounce = 31.1 grams, standard for gold pricing.
Stablecoin = A crypto token pegged to a stable asset like USD or gold.
Omnichain = Works across multiple blockchains. Magic? No, just tech.
