The Tether Gold KPMG audit shows that the digital gold coin was wholly backed by actual gold as of the end of 2025 (December 31). The accounting firm KPMG carried out an independent audit of TG Commodities, the issuer of XAU₮, and found that there is a strong correlation between the amount of gold held by TG Commodities and the number of tokens circulating.

Table of Contents

As per the audit results announced by Tether on Thursday, November 12, TG Commodities had 520,089.350 fine troy ounces of physical gold worth an approximate amount of $2.246 billion. At the same time, the circulating supply of XAU₮ was 520,089.300 tokens in the year 2025.

As can be observed from the above-mentioned numbers, TG Commodities had enough physical gold to back up the token supply in circulation.

Also Read | NVIDIA Shares Fall 9.7% After Jensen Huang Resigns as CEO

Tether Gold KPMG Audit Physically Verifies Every Gold Bar

Some of the most vital observations from the Tether Gold KPMG audit include the methods used during the physical inspection.

This is because KPMG auditors did not just look at the financial documents but instead went on site and did a manual inspection of each gold bar backing the currency of XAU₮. It enabled the auditors to verify the amount of gold being maintained by TG Commodities.

KPMG issued an unqualified opinion on the financial statements of TG Commodities for the year ending December 31, 2025. An unqualified opinion is also referred to as a clean opinion since the accountant found no material reservations in the presentation of the financial statements.

Paolo Ardoino, the CEO of Tether, brought to light the Tether Gold KPMG audit, in which the accountant verified the individual gold bars.

Ardoino said KPMG ‘counted every single bar as part of its Tether Gold audit.

Furthermore, he showed his optimism regarding the future of the project in the market for gold investments. He said that “XAU₮ is on track to become the first true competitor to the gold ETF market.”

Tether Gold Reserves Reach $3.44 Billion in 2026

While the Tether Gold KPMG audit looked at the financial situation of the firm at the end of 2025, Tether has continued to report growth in the amount of physical gold it possesses.

In its estimation, the value of the reserves that back the XAU₮ has reached about $3.44 billion as of September 30, 2026. This is an increase of about 59% over the end of 2025.

This is indicative of the continuing growth of the physical gold reserves of Tether Gold as well as the development of the firm’s digital assets business.

Investors can gain access to physical gold through XAU₮, which is a token based on blockchain technology. Each of the tokens represents ownership of one fine troy ounce of gold kept in a vault located in Switzerland.

The use of this model enables users to get access to gold via digital platforms rather than buying and storing physical gold bars. At the same time, it gives the opportunity to transfer the token via supported blockchain networks.

The Tether Gold KPMG audit may be a significant point of reference for such investors.

Digital Gold Could Unlock More Demand for Physical Gold

Tokenized gold is gaining traction as the gold sector seeks means of making gold more accessible using technology.

World Gold Council has acknowledged the ability of technological innovations to open up gold investment opportunities in the past. The council has indicated that its model shows that the removal of adoption barriers could increase gold demand by about $700 billion.

Tokenized assets like XAU₮ could help to facilitate this growth by enabling greater accessibility, transferability, and management of gold via blockchain technology.

However, the proliferation of digital gold assets means that there is an increased need for transparency. Information on reserve ownership, storage, and whether physical assets are equivalent to the number of tokenized assets is essential.

In such a case, the Tether Gold KPMG audit acts as an extra independent audit of the company’s reported gold reserves and balance for 2025.

With reserves growing to $3.44 billion by September 2026, Tether continues to grow in the tokenized gold market segment. The Tether Gold KPMG audit could serve as added assurance amid growing competition between blockchain gold and classic exchange-traded gold.

Also Read | Aave on Arc Soars: Powerful $300M Targets $4.6T Market

Bena Ilyas

Bena Ilyas is a Global News Correspondent and Market Analyst at Tronweekly with over four years of experience covering global cryptocurrency, blockchain, and Web3 developments. She has written 1,000+ articles for leading crypto news platforms, reporting on Bitcoin, Ethereum, altcoins, DeFi, and global crypto regulation, alongside Web3 trends, Layer 2 ecosystems, and AI-driven crypto use cases. Her work is based on verified sources and fact-based reporting for global market participants.