Tether Has Launched Its Gold-Backed Stablecoin
Mister Crypto
Stablecoins
4 years ago
1 QCP
Bitfinex is the first exchange to trade the token.
Stablecoin giant Tether Ltd. has just launched a gold-backed cryptocurrency, which is price-pegged to the precious metal. The news was announced in a Jan. 23 web post.
Each token of Tether Gold, or XAUT, is physically backed by one troy fine ounce of gold. Currently, there are 3990.225 XAUT in circulation, meaning that the market cap of the new cryptocurrency is approximately $6.3 million.
Though exchanges must buy at least 50 XAUT ($78,500) worth of Tether Gold, general investors can buy small fractions of the token through an exchange.
Bitfinex, Tether’s sister company, has become the first exchange to add Tether Gold to its listings. XAUT is currently trading on the exchange at roughly $1,570.
https://cryptobriefing.com/tether-launched-gold-backed-stablecoin/
Stablecoin giant Tether Ltd. has just launched a gold-backed cryptocurrency, which is price-pegged to the precious metal. The news was announced in a Jan. 23 web post.
Each token of Tether Gold, or XAUT, is physically backed by one troy fine ounce of gold. Currently, there are 3990.225 XAUT in circulation, meaning that the market cap of the new cryptocurrency is approximately $6.3 million.
Though exchanges must buy at least 50 XAUT ($78,500) worth of Tether Gold, general investors can buy small fractions of the token through an exchange.
Bitfinex, Tether’s sister company, has become the first exchange to add Tether Gold to its listings. XAUT is currently trading on the exchange at roughly $1,570.
https://cryptobriefing.com/tether-launched-gold-backed-stablecoin/
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