The market for tokenized gold is expanding in step with rising demand for physical bullion, highlighting a broader shift toward traditional safe-haven assets as geopolitical tensions and trade uncertainty push investors away from the US dollar. On Monday, Tether disclosed that its Tether Gold, XAUt, now represents more than half of the entire gold-backed stablecoin market, with a total value topping $2.2 billion. End-of-year data show 520,089 XAUt tokens in circulation, each backed one-for-one by physical gold held in reserve. The development underscores a growing appetite for crypto-native wrappers that offer liquidity while anchoring themselves to tangible assets. Key takeaways XAUt dominates the gold-backed stablecoin space, making up more than 50% of the market and surpassing $2.2 billion in aggregate value, with 520,089 tokens circulating at the end of Q4. Gold’s rally intensified as Comex reached new price levels, with the precious metal eclipsing $5,000 per troy ounce for th...