Tether’s XAUT Surpasses PAXG as Largest Tokenized Gold Asset After $437M Mint
Tether has cemented its dominance in the tokenized gold market with a single-day mint of 129,047 XAUt tokens worth $436.94 million. The August 8 issuance propelled XAUT's market capitalization 20% higher, dethroning Paxos Gold (PAXG) as the sector leader.
The mint coincides with XAUT's growing trader engagement - daily volumes have exceeded both PAXG and KAU since July 25. While PAXG maintains a seven-fold advantage in total holders, XAUT's user base grew 173% in 2025 compared to PAXG's 29% expansion.
Market analysts attribute Gold tokenization's momentum to macroeconomic uncertainty. As traditional safe-haven flows meet blockchain efficiency, Tether's aggressive minting strategy appears timed to capture institutional demand for digitized precious metals exposure.
