Tether, the crypto company behind the world's largest stablecoin USDT, held over 11.6 tons of gold bars to back the value of its tokenized gold offering as investor demand grew for the yellow metal Tether Gold (XAUT), issued by TG Commodities under El Salvador’s digital asset framework, was backed by more than 375,000 ounces, roughly 11.6 tons, of physical gold as of September 30. Each token is backed 1:1 by a fine troy ounce of gold, with reserves held in Switzerland, according to a company statement. X ...