Tether, one of the world's largest stablecoin companies, has taken important steps to both expand its influence in Latin America and open a new chapter in gold-backed crypto assets. The company announced an investment in Orionx, a Chile-based cryptocurrency exchange, and also announced the launch of a new gold-backed, cross-chain stablecoin called XAUt0.
Access to gold via blockchain with XAUt0
An important development on the Tether front was the introduction of a new gold-backed stablecoin called XAUt0. Launched on the USDT0 network, this token uses LayerZero's Omnichain Fungible Token (OFT) standard. This allows users to transfer XAUt0 between multiple blockchains without any “wrapping” process or bridge solution.
The initial launch of XAUt0 on The Open Network (TON), powered by Telegram, also attracted attention. The move is a continuation of a collaboration that began when Tether moved USDt to the TON network in April 2024.
Tether's current offering, the Ethereum-based XAUt, is the world's largest gold-backed stablecoin with a market capitalization of $832 million. Each XAUt token is backed by one troy ounce of physical gold stored in vaults in Switzerland. With XAUt0, this asset will now be able to move between chains and reach a wider audience of investors.
Gold wind moves to crypto
In 2025, global economic uncertainties and trade wars triggered investors' search for safe havens. The price of an ounce of gold rose as high as $3,304 at the end of May, with many gold ETFs posting gains in excess of 25% since the start of the year. Tether's XAUt0 move aims to offer a powerful digital alternative to traditional gold investments. This stablecoin is poised to attract investors' attention thanks to its ease of cross-chain integration and the fact that it is backed by physical gold.
Tether powers Chile's crypto ecosystem
Tether also announced that it has invested in a Chile-based cryptocurrency platform called Orionx. Orionx, in which Tether has invested, is known as one of the most established crypto asset platforms in Chile. In addition, Orionx, a financial infrastructure company focused on cross-border payments, aligns with Tether's vision to increase financial inclusion in emerging markets. Tether's strategic investment will directly contribute to the growing crypto adoption in Latin America.
The company said in a statement that this investment was made to “build strong and resilient digital payment channels”. Especially in regions where access to traditional banking systems is limited, stable assets like USDT play an important role in increasing economic inclusion.
