Tether has added BNB Chain as a supported network for its gold-backed XAUT token. The expansion gives BNB Chain users direct access to one of the largest tokenized gold products available in crypto today.
Each XAUT token is backed by one fine troy ounce of physical gold. The gold is stored in Swiss vaults as London Good Delivery bars. Independent attestations confirm the 1:1 backing, and Tether's most recent report showed the firm held over 520,000 troy ounces as of the end of 2025.
XAUT carries a market cap of nearly $2.5 billion, making it the dominant product in the tokenized gold category. The total tokenized gold market is valued at approximately $5.3 billion. Paxos' PAX Gold ranks second with a market cap of around $2.3 billion.
Binance has launched spot trading for XAUT against multiple pairs, including USDT, Bitcoin, FDUSD, USDC, and TRY. That opens the token to one of the most active trading user bases in the industry.
Tether CEO Paolo Ardoino said the goal is to make gold functional inside modern financial infrastructure. "With XAUT, we are not changing what gold is; we are making it usable in a modern financial system," he said. He added that the token allows gold to move instantly, settle globally, and connect with digital markets.
Ardoino said the BNB Chain listing extends that access to hundreds of millions of users. He described the product as positioning gold as something that can be actively used, not just stored.
XAUT was originally launched on Ethereum before expanding to additional networks. The BNB Chain deployment marks another step in Tether's effort to distribute the token across major blockchain ecosystems.
Gold prices climbed above $5,500 in late January before retreating to around $4,442 in recent weeks. That represents a decline of nearly 15% over the past month.
Tether is also the issuer of USDT, the largest dollar-pegged stablecoin by market cap at $184 billion. The company disclosed this week that it has hired a Big Four accounting firm to conduct a full independent audit of USDT reserves. The name of the firm has not yet been disclosed.