Tether Rolls Out XAUt on BNB Chain as Gold Enters Crypto

TLDR

• Tether has launched XAUt on BNB Chain to expand access to its tokenized gold product.
• Binance has listed XAUt for spot trading against USDT, BTC, USDC, TRY, and U.
• XAUt holds a market cap of about $3.2 billion and is backed by roughly 1,800 gold bars in Swiss vaults.
• Spot gold reached $5,595 per ounce in January before falling to around $4,450 on March 26.
• Crypto.com now offers tokenized gold perpetual contracts alongside spot trading in XAUt and PAXG.

Tether has launched XAUt on BNB Chain to expand access to its tokenized gold product. Binance confirmed it will list XAUt for spot trading against USDT, BTC, USDC, TRY, and U. The move places tokenized bullion inside one of the largest exchange ecosystems as gold trading activity shifts into crypto markets.

XAUt and Tether Expand Tokenized Gold Access

Tether introduced XAUt on BNB Chain to widen the distribution of its gold-backed token. The company aligned the launch with Binance’s spot listing announcement. As a result, traders can access XAUt across several major trading pairs on the same day.

Binance stated it would enable spot trading for XAUt against USDT, BTC, USDC, TRY, and U. The exchange added the token to its main trading platform. Therefore, users can buy and sell tokenized gold within existing crypto portfolios.

BNB Chain reported that XAUt holds a market cap of nearly $3.2 billion. The network linked the token to about 1,800 gold bars stored in Swiss vaults. Reuters reported in January that XAUt controls about 60% of the global gold-backed stablecoin market.

BNB Chain ranks as the second-largest chain for RWAs by distributed asset value, according to RWA.xyz. The network also said it attracted new asset inflows and holders over the past month. Consequently, Tether gains broader onchain reach for its bullion-backed token.

Gold Price Swings Drive Crypto Market Activity

Gold prices recorded sharp moves earlier this year and drew fresh trading interest. Spot gold reached a record $5,595 per ounce in January as geopolitical tensions increased. However, prices later reversed direction and erased part of those gains.

Gold traded near $4,450 on March 26. The metal has fallen more than 15% since the war on Iran began on February 28. Higher oil prices, inflation concerns, and a stronger dollar pressured prices during that period.

Crypto platforms responded to the volatility by expanding gold-linked products. Crypto.com said its exchange now supports tokenized gold perpetual contracts. The platform also offers spot trading in XAUt and PAXG.

These products allow users to gain leveraged exposure to gold price movements around the clock. As a result, tokenized bullion now sits alongside traditional crypto assets. Traders can switch between digital tokens and gold exposure within the same exchanges.

Paolo Ardoino described the BNB Chain launch as a utility-driven step. He said the expansion aims to make gold more usable in digital markets. The rollout coincides with Binance activating spot trading for XAUt across multiple pairs.

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