RATE Group | Tether launches gold-backed stablecoin on TRON and Ethereum
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Tether launches gold-backed stablecoin on TRON and Ethereum

24 Jan Tether launches gold-backed stablecoin on TRON and Ethereum

Posted at 09:53h in Ethereum News by

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  • The controversial company Tether Limited will launch a gold-covered stablecoin called Tether Gold.
  • The Tether Gold token “XAUt” is launched as a TRC20 token on the TRON blockchain and as an ERC20 token on the Ethereum blockchain.

Tether is one of the most controversial projects in the cryptocurrency space and is suspected of having manipulated the Bitcoin price in 2017. The company announced a few hours ago that a new stablecoin, which is said to be fully covered by gold, will be launched. It will be called Tether Gold and will initially be issued on the exchange Bitfinex.

Tether Gold launches on ETH and TRON blockchain

The Tether Gold token XAUt will launch as ERC20 token on the Ethereum blockchain and as TRC20 token on the TRON blockchain. The company claims that every owner of a XAUt should automatically also come into possession of a troy ounce of physical gold. The gold ounce id owned by TG Commodities Limited, a…

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