Tether is now holding a gold-backed stablecoin, Tether Gold (XAU ₮). One token represents ownership of one fine troy ounce of physical gold, currently worth about $ 1,550. The innovative product is available as an ERC-20 token on the Ethereum blockchain and a TRC20 pass on Tron (TRX). The funds are backed by physical gold housed in a "Swiss vault." According to Tether, its gold offering is the only product of its competition that does not charge custody fees. Tether has also invited all exchanges that wish to support the new token to contact the company. Blockchain data for the Ethereum contract shows that there is currently a pending offering of almost 4,000 tokens, which would equate to a market capitalization of $ 6.2 million.
Trading Tether Gold:
Bitfinex has already launched XAUT trading, a quarter of the ERC-20 offering that has moved to Bitfinex. As a company closely affiliated with Tether, Bitfinex was expected to be the first to offer the new token. Qualities Easy access XAUt is available as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain. The token can be easily exchanged or moved at any time and anywhere in the world. Individual assignment Each XAUt represents the property of one fine troy ounce of physical gold in a specific gold bar. Thus, the holders will obtain undivided property rights to the gold in the specified gold bars. Assigned gold is identifiable with a unique serial number, purity, and weight. At any time, XAUt holders can verify the details of the gold bars associated with their address via the search website. Various redemption options XAUt holders can make a redemption request in the form of physical gold as long as they have completed the verification process for TG Commodities Limited and possess the required minimum amount of XAUt. The holder's physical gold may be delivered to a location of their choice in Switzerland. The holder may request that TG Commodities Limited attempt to sell the gold and receive the cash proceeds from that sale (fewer TG Commodities Limited).
24/7 customer support:
We have a global customer service team ready to serve you around the clock. No matter where you are and what time zone you are in, we will be available to contact us. What is the advantage of having tangible assets on a blockchain? Owning physical assets on the blockchain provides holders with the combined benefits of both physical and digital assets. XAUt token holders will enjoy ownership of gold while avoiding drawbacks associated with physical gold, such as high storage costs and limited accessibility.