Tether CEO: '94 tonnes of gold tokens moved in six months… fees just 0.0016%'

Doohyun Hwang

Summary

Paolo Ardoino, Tether’s CEO, said he highlighted the efficiency of the gold-backed token XAUT.
He said that over the past six months, 94 tonnes of XAUT moved instantly with a 0.0016% fee.
XAUT is a gold-linked token issued by Tether, and he said it enables the transfer of gold value on a blockchain without physical transport.

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Paolo Ardoino, chief executive officer (CEO) of Tether, highlighted the efficiency of the gold-backed token XAUT, comparing it with traditional methods of transporting gold.

In a post on X on the 19th (local time), Ardoino said, “Over the past six months, 94 tonnes of XAUT moved instantly with a fee of just 0.0016%,” adding that it “stands in contrast to central banks spending millions of dollars to ship gold by air.”

XAUT is a gold-linked token issued by Tether, structured so that one token is pegged to a certain amount of physical gold. Because it is issued and transferred on a blockchain, it promotes the advantage that the value of gold can be transferred without physical transport.