Tether Gold (XAUT)
Subscribers see which of their clients hold this program and whether each household qualifies under these terms, and Ketju emails them when the file changes. $299 per firm per month, first 30 days free.
The verdict is on the memo: Tether Gold (XAUT) Not approved
Eligibility
Each answer quotes the issuer’s own words from the document named under it. Ketju reads each document again and records whether the words are still there. Where the documents say nothing, the row states that.
- What the holder owns
An undivided interest in one fine troy ounce of gold on a specific bar in the reserve.
“Each Gold Token reflects ownership of an undivided specific interest in one fine troy ounce of gold in the Gold Reserves.”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Terms of Sale and Service, 4.3 “Gold Ownership and Delivery” · words found 2026-10-16
- What the holder owns
The gold sits in a Swiss vault and belongs to the token holders; Tether Gold does not own it. The report does not name the custodian.
“The Gold Reserves are vaulted in Switzerland. The Gold Reserves are owned by the XAU₮ token holders, not by the Company.”
BDO Advisory Services: ISAE 3000 assurance report on the Tether Gold reserves report as of 30 June 2026 · Reserves Report as of 30 June 2026, page 2, “Management’s Key Accounting Policies” · words found 2026-10-16
- What the holder owns
The custodian is a related party of Tether Gold.
“In addition, the Custodian is a related party to Tether Gold.”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Risk Disclosure Statement, related-party transactions · words found 2026-10-16
- Who may hold it
Anyone except Canadian and Singaporean persons, sanctioned persons, and people in the listed jurisdictions. Buying from or redeeming with Tether Gold also needs a verified account.
“Every Prohibited Person is strictly prohibited from directly or indirectly holding Gold Tokens in any way or otherwise transacting on or using the Site Services.”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Terms of Sale and Service, 3 “Restrictions on Prohibited Persons and Prohibited Counterparties” · words found 2026-10-16
- Who may hold it
U.S. persons may not hold a Gold Token Wallet, so cannot buy from or redeem with Tether Gold, unless Tether Gold accepts them as Eligible Contract Participants.
“For the avoidance of doubt, U.S. Persons (except for Eligible Contract Participants agreed by Tether Gold, in its sole discretion) are prohibited from directly or indirectly holding, owning or operating a Gold Token Wallet or any Site Services other than Look-Up Services.”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Terms of Sale and Service, 3.4 · words found 2026-10-16
- First purchase minimum
50 tokens, which is 50 fine troy ounces. The terms give no dollar figure.
“Minimum purchase amount is 50 Gold Tokens.”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Fee Schedule, “Purchase of Gold Tokens” · words found 2026-10-16
- Who it may be transferred to
Transfers between wallets on chain are free, with no Tether Gold fee; moving tokens into or out of a Gold Token Wallet needs Tether Gold’s consent.
“Transfers to or from a Gold Token Wallet require prior consent from Tether Gold.”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Terms of Sale and Service, 4.1 “Gold Token Purchase Terms” · words found 2026-10-16
- How a holder redeems
Verified customers redeem in steps of 430 tokens, one bar, for delivery in Switzerland or a broker sale in dollars. The fee is 0.25% plus delivery or brokerage costs.
“Redemption of Gold Tokens for underlying gold can be effecutated in increments of 430 tokens.”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Fee Schedule, “Redemption of Gold Tokens” · words found 2026-10-16
- Who keeps the official record
Tether Gold’s own software ties each token-holding address to a bar. If it fails, a holder who cannot redeem may be an unsecured creditor of the custodian.
“Tether Gold utilizes software to allocate a specific gold bar, or part thereof, to an address holding Gold Tokens.”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Risk Disclosure Statement, allocation software · words found 2026-10-16
- What the issuer says it can freeze or take back
Tether Gold may freeze a holder’s tokens at its sole discretion, blacklist addresses, and seize tokens. On chain the owner can block an address and burn its balance.
“Tether Gold may suspend or terminate your access to the Site or any of the Site Services, freeze any Gold Tokens held by you, or terminate your Gold Token Wallet, as required by applicable Law or where Tether Gold, in its sole discretion, determines it is prudent to do so”
Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · Gold Token Terms of Sale and Service, 2 “Right to Use the Site Services” · words found 2026-10-16
| Fact | Answer |
|---|---|
| Who onboards the holder | issuer |
| Voting rights | None |
| Distributions | None |
| SIPC coverage of the wallet | No |
Who controls it
Ketju read these powers from the deployed contracts and their verified source code: the token and every contract it checks on a transfer. A power listed here is something the issuer can do; it does not mean the issuer has used it.
| Chain | Freeze a holder | Pause | Claw back | Gate holders | Change the code | Keys held by |
|---|---|---|---|---|---|---|
| Ethereum | Yes | No | Yes | No | Yes | A 3-of-6 multisig can claw back tokens and freeze a holder. A 3-of-6 multisig, through a contract, can change the code with no delay. |
Who holds the keys
Ketju read every current holder of each power from the chain on 2026-09-23. A single key is one private key, and whoever holds it acts alone. A multisig needs the stated number of signers. A timelock delays every action, so holders can see it before it takes effect.
| Chain | Key | What it can do | Held by | Address |
|---|---|---|---|---|
| Ethereum | Owner | grant and revoke these powers, mint new tokens, claw back tokens, freeze a holder | a 3-of-6 multisig | 0xc6cd…a828 |
| Ethereum | Proxy admin | change the code | a contract run by a 3-of-6 multisig | 0x856f…873e |
Ethereum: 3 contract reads, 4 functions in verified source, 2026-09-23
- eip1967.implementation=0x4c0d2c74a8d26f1e4f5653021c521f5471f9e566
- eip1967.admin=0x856fcc085290ac1e40392442211e6a333afb873e
- owner()=0xc6cde7c39eb2f0f0095f41570af89efc2c1ea828
- addToBlockedList in verified source 0x4c0d…e566
- destroyBlockedFunds in verified source 0x4c0d…e566
- mint in verified source 0x4c0d…e566
- upgradeTo in verified source 0x4c0d…e566
Where it trades
| Venue | Kind |
|---|---|
| Tether Gold (gold.tether.to and the Tether Gold tab on app.tether.to), for verified customers | issuer primary |
| Exchanges the Tether Gold site links, among them Bitfinex, Kraken, OKX, Bybit, Bitget, and Crypto.com | exchange |
| DEX pools on Ethereum, such as Uniswap | dex |
Redemption
| Route | Settlement | Fee | Settles in |
|---|---|---|---|
| Redeem in kind | A verified customer deposits tokens to a Gold Token Wallet and redeems in steps of 430 tokens, one London Good Delivery bar, adjusted to the bar’s weight. The customer takes the bar at a place in Switzerland, for a delivery fee, or asks Tether Gold to have a broker sell it in the Swiss market and wire the dollars. Redemption takes several business days. Tether Gold may delay if the gold is illiquid, unavailable, or lost, or if a government demands it. | 25 bps | XAU (bar delivered in Switzerland), USD |
- The XAUT owner (MultiSigWallet 0xc6cde7c39eb2f0f0095f41570af89efc2c1ea828, 3 of 6) or its signers change, or the proxy points at a new implementation
- Tether Gold names its custodian, moves the vault out of Switzerland, or changes the custodian
- The terms change who may hold, the U.S. person rule, the 50-token minimum, or the 430-token redemption step
- A reserves report shows fewer ounces than tokens in circulation
- Tether Gold issues XAUT natively on another chain, or names XAUt0 in its terms
- Tether Gold blocks another XAUT holder or burns a blocked balance again (the owner last blocked 0x95ae…ab80 and burned its 12 XAUT on 2026-02-17, tx 0xc18f…2f04), or a regulator acts against TG Commodities
Daily checks
Every day Ketju reads each control function in the table above and the contracts the token checks on a transfer. Ketju compares the token’s on-chain supply with yesterday’s, and its market quote with yesterday’s quote. Ketju also reads every document quoted above and reviews the file again if a quoted passage disappears from its document. Ketju counts a new, removed, or changed key as a change only when the chain’s own log shows the grant, revocation, or signer change since yesterday. If the log does not show it, Ketju updates the key list in this file and does nothing more. A change opens a review before any client action. Subscribers get an email that names each of their clients who hold the token, with the household result.
File history
Ketju has not revised this file since filing it. If Ketju revises it, the earlier version stays as published, with the reason.
| Date | Change |
|---|---|
| 2026-09-23 | Filed. |
Sources
- Tether Gold: Gold Token Terms of Sale and Service, last updated 9 September 2025 (page) · primary · accessed 2026-09-23
Supports: who may hold, U.S. persons, freeze and seizure, redemption, custodian, title - Tether Gold: terms, fee schedule (last updated 27 January 2025), and risk disclosure statement as served in the gold.tether.to site script · primary · accessed 2026-09-23
Supports: minimum purchase, 430-token redemption, fees, freeze, custodian is a related party, bar allocation by address - BDO Advisory Services: ISAE 3000 assurance report on the Tether Gold reserves report as of 30 June 2026 · primary · accessed 2026-09-23
Supports: 707,747.139 oz held, 707,747.090 XAUT in circulation, vaulted in Switzerland, owned by token holders, custodian unnamed - XAUT token implementation on Ethereum (Sourcify exact match, TetherToken with WithBlockedList) · primary · accessed 2026-09-23
Supports: addToBlockedList, destroyBlockedFunds, owner mint, UUPS upgrade - XAUT owner: MultiSigWallet, 3 of 6 (Sourcify match), the same wallet that owns USDT on Ethereum · primary · accessed 2026-09-23
Supports: owner key holder, 3 of 6 confirmations - USDT0 docs: deployments API, XAUT and its OFT Adapter on Ethereum · primary · accessed 2026-09-23
Supports: XAUT contract address