Tether announced Wednesday that its tokenized gold product, XAU₮, is now available on BNB Chain, expanding the token's reach to the third-largest decentralized finance (DeFi) ecosystem by total value locked (TVL).
Each XAU₮ token represents one fine troy ounce of physical gold held in Swiss vaults as a London Good Delivery bar. The token is issued by TG Commodities under El Salvador's Digital Asset Issuance Law.
The move comes at a turbulent moment for gold markets. Spot gold is trading at roughly $4,400 per ounce, well below its all-time high of approximately $5,589 hit in January but still sharply higher year-over-year. Gold surged 64% in 2025, its largest annual gain in 40 years, as investors piled into safe-haven assets amid geopolitical tensions and trade uncertainty.
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