News 
April 28, 2025 
3 min. 
Gold-backed cryptos like Tether Gold (XAUT) and Paxos Gold (PAXG) are making waves as investors flock to safe-haven assets. Over the past month, these assets have surged around 7%, driven by escalating global economic uncertainty and geopolitical tensions.
Gold-Backed Cryptocurrencies Hit Record Highs as Investors Seek Refuge
Amid the trade war reignited by US President Donald Trump’s April 2 tariff announcement, gold-backed cryptocurrencies have experienced a notable spike. Tether Gold reached an all-time high of $3,529, while Paxos Gold peaked at $3,520, according to CoinMarketCap data. Meanwhile, Quorium (QGOLD) and Kinesis Gold (KAU) posted impressive gains of 8.5% and 7.6%, respectively, over the last 30 days. In the longer term, all four tokens have surged by over 40% in the past year, as reported by CoinGecko.
A report by Tether highlights that the surge in demand for XAUT stems from rising macroeconomic pressures, ongoing geopolitical conflicts, and growing investor appetite for inflation-resistant assets.
The price of physical gold has also mirrored this upward trend. On April 2, known as “Liberation Day” following Trump’s tariff announcement, gold stood at $3,115 per ounce. By April 28, it climbed to $3,335, marking a solid 7% increase in less than a month.
Similarly, Bitcoin (BTC), often called “digital gold,” has also benefited from the climate of uncertainty, soaring 14% during the same period.
Real-World Asset Tokenization Gains Momentum
The real-world asset (RWA) tokenization market, which involves bringing tangible assets like precious metals, real estate, and bonds onto the blockchain, continues to expand rapidly. According to RWA.xyz, the total market capitalization of tokenized RWAs (excluding stablecoins) has climbed to $21.6 billion, reflecting an 8.6% increase over the past month.
Among the leading examples of RWA tokenization are Tether Gold (XAUT) and Paxos Gold (PAXG). Each of these digital assets reportedly represents one troy ounce of physical gold. Tether reportedly holds its gold reserves in Switzerland, while Paxos stores its reserves in London. In 2025, tokenized gold has emerged as one of the strongest crypto use cases, reaching a two-year peak in trading volume on April 10.
