RATE Group | Tether Introduces New Gold-Backed Stable Coin
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Tether Introduces New Gold-Backed Stable Coin

17 Nov Tether Introduces New Gold-Backed Stable Coin

Posted at 03:59h in Bitcoin News by

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The crypto world is seeing a huge influx of gold-backed stable currencies, and now Tether is adding a new one to the mix.

Tether Is Getting Involved in Gold

The world could see the new “Tether Gold” cryptocurrency by the time Christmas rolls around this year. What is it about Christmas that seems to bring either great renown or floor-scraping gutter waves to the crypto space?

Remember in 2017 during the holiday season when the number one cryptocurrency by market cap (we’re talking about bitcoin) reached its all-time high of nearly $20,000? Those memories are less fresh than ones of bitcoin during Christmas the following year, when it was trading for a measly $3,500.

Either way, Paolo Ardoino – the chief technology officer for Bitfinex and Tether – is very excited about the prospects Tether Gold can bring to the digital money space. He comments:

Current macro-finance uncertainty brings the need of traditional instruments to hedge risk of our customers, especially in the crypto…

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