Tether Gold Completes KPMG Audit, Gold Reserves Reach 520,000 Ounces

TechFlow reported that on November 12, Tether announced that KPMG U.S. had completed an independent audit of the financial statements of TG Commodities, the issuer of Tether Gold (XAU₮), as of December 31, 2025, and issued an unqualified opinion. The audit showed that XAU₮ is fully backed by physical gold. This is the second stablecoin under Tether to complete an audit by a Big Four accounting firm, following USDT issuer Tether International in August this year.

During the audit, KPMG conducted physical counts and inspections of each gold bar backing XAU₮, rather than relying solely on custodian confirmations. As of December 31, 2025, TG Commodities held 520,089.350 ounces of pure gold valued at USD 2.246 billion, corresponding to 520,089.300 XAU₮ issued.

The gold is stored in Swiss vaults and meets London Good Delivery standards. Ownership belongs to token holders, and each token corresponds to an undivided ownership interest in a specific gold bar. The company also engages an independent third party to conduct quarterly sampling inspections of the gold bars. CEO Paolo Ardoino said XAU₮ is poised to become the first true competitor in the gold ETF market, citing instant transfer and settlement of gold, lower custody costs, and higher transparency. CFO Simon McWilliams said auditing USDT and XAU₮ first, as the largest and most structurally complex products, paves the way for a company-wide audit.

Source: TechFlow