Tether, the issuer of the popular USDT stablecoin, has launched a new token whose commodity backing is tied to gold. Currently, the token is available on the Ethereum and Tron networks.
Tether launches Tether Gold (XAUt) token
Tether, the company behind the most widely used stablecoin USDT, has unveiled a new digital asset. The token denoted XAUt, is equal to one troy ounce of gold on the London Good Delivery bar.
Token holders have the opportunity to obtain undivided ownership rights to gold on the specified bars. The extracted gold will be identified by its unique serial number, weight, and purity.
According to the announced announcement, XAUt token holders will be able to check the gold bullion data associated with their addresses at any time using the reference website. Additionally, XAUt will be available as an ERC-20 token on the Ethereum network and as a TRC20 token on the TRON blockchain.
