What crypto is backed by gold?

[Teak]

Hi everyone. I’ve been researching gold-backed cryptocurrencies and wanted to get your perspectives. Has anyone here invested in or studied projects like Paxos Gold or Tether Gold? What are your thoughts on their legitimacy and potential as a hedge against inflation?

 

[anomen]

Gold-backed cryptocurrencies are an interesting concept, but I’m skeptical about their execution. The idea of tying a digital asset to a physical commodity like gold introduces a lot of operational challenges, especially around transparency and auditing.

 

[AdetectiveB]

I agree. Theoretically, gold-backed crypto could offer stability, but the real question is whether the issuers can prove they actually hold the gold they claim to. Without proper, verifiable audits it’s hard to trust these projects. Paxos Gold (PAXG) is one of the more reputable options, as far as I know. They publish regular audit reports, and their token is backed 1:1 by physical gold stored in professional vaults. That said, even their audits rely on third-party assurances rather than direct physical verification, which leaves room for doubt.

 

[ChinaOK]

Has anyone looked into Tether Gold (XAUT)? They claim to hold over 246,000 troy ounces of gold, but I haven’t seen much detail about their storage or auditing processes. It feels like there’s a lot of opacity in this space.

 

[SamuelMoor]

Tether Gold’s website states that their gold is stored in Switzerland and audited by a third party, but like Paxos, there’s no direct physical verification. It’s a recurring issue across the industry and trust is based on reputation rather than tangible evidence.