Eligibility file · Commodity

Tether Gold (XAUT)

What the client owns

Undivided interest in one fine troy ounce of London Good Delivery gold on a specific bar, vaulted in Switzerland by a custodian that Tether Gold says is a related party and does not name. Commodity receipt: A receipt for an allocated physical asset held by a custodian.

Who may hold it

Not offered to US persons. First purchase minimum not stated. Tether Gold sells and redeems only for its verified customers, after a 150 USDt verification fee. The minimum purchase is 50 tokens (50 fine troy ounces); the terms give no dollar figure. U.S. persons may not hold a Gold Token Wallet unless Tether Gold accepts them as Eligible Contract Participants under the Commodity Exchange Act. Canadian and Singaporean persons, sanctioned persons, and people in the listed jurisdictions may not hold the token at all.

Who can freeze or claw back

Ethereum: can freeze a holder, claw back, mint, change the code. 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.

How it exits

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. Several business days; Tether Gold may delay if the gold is illiquid, unavailable, or lost, or if a government demands it., 25 bps fee. Settles in XAU (bar delivered in Switzerland), USD.

Research and shelf status are on the memo: Tether Gold (XAUT) Adverse research finding

Issuer

TG Commodities, S.A. de C.V. (El Salvador; before 27 January 2025, TG Commodities Limited, British Virgin Islands), authorised by El Salvador’s National Commission of Digital Assets

Registration

Not a security

Official record

No transfer agent

Instruments

XAUT

Chains

Ethereum

Reviewed

2026-09-23 · v1

Next review

2027-03-22

Who may buy, hold, transfer, and redeem

Each answer rests on the issuer’s own words, quoted from the document named under it. Ketju re-reads each document and records whether the words are still there. Where the documents say nothing, the row says so.

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 2026-09-23

What the holder owns

The gold is vaulted in Switzerland and belongs to the token holders, not to Tether Gold. 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 2026-09-23

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 2026-09-23

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 2026-09-23

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.”

First purchase minimum

50 tokens, which is 50 fine troy ounces. No dollar figure is given.

“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 2026-09-23

Who it may be transferred to

Free between wallets on chain, 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 2026-09-23

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 2026-09-23

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.”

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 2026-09-23

Fact	What the file records
Who onboards the holder	issuer
Voting rights	None
Distributions	None
SIPC coverage of the wallet	No

Who can change the record

Powers read from the deployed contracts and their verified source: the token and every contract it consults on transfer. A power recorded here is the issuer’s ability, not evidence it has been used.

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

Every current holder of each power, read from the chain on 2026-09-23. A single key is one private key: whoever holds it acts alone. A multisig needs the stated number of signers. A timelock makes every action wait, so holders can see it coming.

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 at block 26040958, 4 functions in verified source, 2026-09-23

Read from the chain

eip1967.implementation=0x4c0d2c74a8d26f1e4f5653021c521f5471f9e566
eip1967.admin=0x856fcc085290ac1e40392442211e6a333afb873e
owner()=0xc6cde7c39eb2f0f0095f41570af89efc2c1ea828

Read from verified source

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

How it exits

Path	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. 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

Reopen conditions: events that change an answer above

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

What the monitor reads daily

Every control function in the table above and the contracts the token consults on transfer; the token’s on-chain supply against yesterday’s; and its market quote against yesterday’s quote. Every document quoted above is re-read too, and a quote that leaves its document reopens the file. A change opens a review item in the governance queue and reopens the file before any client action.

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

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