On November 12, 2026, TechFlow reported that KPMG US had completed an audit of TG Commodities, the issuer of Tether Gold (XAU₮), for the financial year ended December 31, 2025. The auditor issued an unqualified opinion on the financial statements.
According to Tether, KPMG counted and inspected the gold bars supporting XAU₮ during the audit. At year-end 2025, TG Commodities held 520,089.350 troy ounces of physical gold, valued at $2.246 billion, while 520,089.300 XAU₮ tokens had been issued. Tether said the gold was held in Swiss vaults and met London Good Delivery standards.
Tether said the audited financial statements showed XAU₮ was fully backed by allocated physical gold. These are the reported holdings and issuance figures at a specific year-end date, not a statement about their current levels. TechFlow also noted that KPMG had completed a financial audit of USDT issuer Tether International in August 2026.
Original report: TechFlow · Published November 12, 2026, at 21:12 UTC+8.