RATE Group | Tether recently announced the launch of its new token, Tether Gold (XAUt)
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Tether recently announced the launch of its new token, Tether Gold (XAUt)

25 Jan Tether recently announced the launch of its new token, Tether Gold (XAUt)

Posted at 00:49h in Cryptocurrency News by

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Cryptocurrency company Tether, known for its
stablecoin going by the same name — Tether (USDT) — has recently announced
plans to launch a new digital currency that would be backed by gold. The new
coin, known as Tether Gold (XAUt), supposedly keeps its physical gold stored
somewhere in a Swiss vault.

With that said, Tether is known for the lack
of transparency, which has sparked a number of controversies over the years.
Many have theorized that, unless Tether changes its approach and becomes more
transparent, investors may not be interested in supporting even a gold-backed
coin.

Details about Tether Gold

The project has already published a whitepaper which claims that each XAUt token
represents one ounce of London Good Delivery gold, which is, as mentioned,
stored in a Swiss vault. However, the token will still be divisible, meaning
that investors can choose the size of their positions. The lowest amount of
Tether Gold that anyone can possess is 0.000001 XAUt.

Even so, Tether…

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