Tether Gold completes KPMG audit, gold reserves at 520,000 ounces
Original headlineTether Gold 完成毕马威审计，黄金储备 52 万盎司
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Tether announced that KPMG U.S. completed an unqualified audit of TG Commodities, the issuer of Tether Gold (XAU₮), for the fiscal year ended December 31, 2025, marking the second Tether stablecoin to pass a Big Four audit after USDT issuer Tether International in August. KPMG physically counted and verified each gold bar rather than relying solely on custodian confirmations, finding 520,089.350 fine troy ounces of gold worth $2.246 billion backing 520,089.300 issued XAU₮ tokens. The gold is held in Swiss vaults to London Good Delivery standards, with ownership assigned to token holders and each token representing undivided ownership of specific bars, plus quarterly third-party sampling. CEO Paolo Ardoino said XAU₮ could become the first real competitor to the gold ETF market, citing instant settlement, lower custody costs and greater transparency, while CFO Simon McWilliams said auditing the largest and most complex structures first paves the way for company-wide audits.
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Named in this story
Tether Gold, Tether, KPMG U.S., TG Commodities, Paolo Ardoino, Simon McWilliams