KPMG Completes Full Audit of Tether Gold, Confirming $2.2B in Physical Bullion

A Big Four firm physically counting every bar is a meaningful step up from attestation-style reporting, and it gives tokenized gold a credibility marker the broader RWA space has lacked. The detail that matters most is the sequencing: XAUT follows USDT through the same audit pipeline, suggesting Tether is standardizing reserve verification across its products rather than treating it as a one-off. Whether that template extends to the rest of the tokenized-gold field, where physical backing is often asserted rather than counted, is the open question.