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Tether Gold (XAUt) is a token that represents fractional ownership of physical gold held in a Swiss vault by Tether. Each XAUt is backed by one troy ounce of LBMA-grade gold, and holders have the right to redeem against allocated bars at the issuer.
XAUt brings gold-as-collateral to on-chain venues: it can be used in DeFi lending markets, traded on DEXs, and held in self-custody alongside fiat-pegged stables, while preserving the price exposure of the underlying physical metal. Issuance is permissioned through Tether’s KYC process for primary minting.