Tether Launches Gold-Backed Stablecoin on Ethereum & Tron Chains
Due to the growing demand for digital assets, this coin was created to ensure the exposure in the world’s most enduring asset and a geopolitical need for an alternative financial system. Tether has now launched a new type of token which is a gold-backed stable coin. This token will be available on networks of Ethereum & Tron.
Tether launches Tether Gold (XAUT):- Stable coin issuer Tether has recently announced that the company has launched a new digital asset. This new digital asset is so-called tether gold(XAUT), which is a new stable coin that is pegged to physical gold. The new gold-backed stable coin offers zero custody fees and Holders can have direct control over the physical storage of the gold. There will be undivided ownership of the holder on gold. The gold will be identified with unique serial no., weight, and purity. All these details will be provided to the holder. Anytime Holder can check the details of gold bars associated with their addresses through a look-up website. XAUT token will be available as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain; each token represents ownership of one fine troy ounce of gold. It's not that easy to own gold-backed tokens, you have to cross many hurdles to own tether gold(XAUT). If you are thinking of purchasing tether gold then you must have verified account with TG commodities limited. As per the guidelines you must have to purchase a minimum of 50 XAUT Tokens. You can do purchase in US Dollars only. As per the recent currency rate, 50 XAUT will cost you approx 75000 USD. if you want to redeem the token for the physical gold then there is a requirement of at least a full bar of gold worth of tokens. As per the announcement, the XAUT tokens will be available on bitfinex and other cryptocurrency exchanges.