Tether Gold was launched in 2020. Each gold backed token (xAUT) is equivalent to an ounce of gold but can be bought in smaller increments. Tokens are redeemable via sister company TG Commodities Limited in large minimum sizes of a 430 ounce gold bar. Physical delivery is only available to addresses in Switzerland
Gold reserves are vaulted in Switzerland and reported on quarterly reserve attestations.
Unlike other gold tokens, Tether Gold has no governance token or related ecosystem. It’s just a simple gold token.
Tokens are available onchain on Ethereum mainnet or through a number of lesser known crypto exchanges.