7.6 tons of gold: Tether confirmed the provision of XAut

Tethar reported that as of the II quarter there were almost 250,000 tokens of XAut – a “gold” steiblcoin, tied to the price of a Trojan ounce of gold. This is the second official audit of the asset since the start of 2020.

XAut is provided with the gold standard London Good Delivery. According to the issuer, the capitalization of Token exceeded $ 814 million, and the provision was 7.6 tons – slightly less than last year, when the figure reached 7.7 tons.

Source: Tether Gold.

Tether has already implemented the XAUT tokens of $ 617 million unfulfilled company profit at the end of June reached $ 197 million.

The token is traded on Kraken, Kucoin and Bitfinex exchanges. It allows investors to access gold without the need for physical storage. Xaut owners can exchange tokens for physical gold stored in Swiss storage.

The company points out that interest in token gold is increasing. This is facilitated by market dynamics: since the beginning of the year gold has risen by 27%. At the time of publication, the price is $ 3354 per ounce.

Daily XAU/USD Broker Oanda. Source: TradingView.

“Gold-made digital assets, such as Xaut, are increasingly considered as an important tool for hedging investment portfolios,” the company said.

Exit to the US market In parallel, there is an active preparation for entering the US market. According to CEO Tether Paolo Adolyo in an interview with Bloomberg on July 24, the company will present details of the strategy in the near future.

It is about obtaining the status of a foreign issuer of steiblcoins and undergoing audit of reserves by one of the companies of the “big four” – for compliance with the new US law of Genius Act.

Recall that in June, Tether has purchased 31.9% of the Canadian Golden -Done Elemental Altus Royalties.

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