Authored by Andrey Schevchenko via CoinTelegraph.com,
Tether is now supporting a gold-backed stablecoin, Tether Gold (XAU₮), according to a Jan. 23 press release. One token represents ownership of one troy fine ounce of physical gold, currently worth approximately $1,550.
image courtesy of CoinTelegraph
The new product is available as an ERC-20 token on the Ethereum blockchain, as well as a TRC20 token on Tron (TRX).
The funds are said to be backed by physical gold held in a “Switzerland vault,” the press release reads. According to Tether, its gold offering is the only product among its competition that does not charge custody fees.
Tether has also invited all exchanges wishing to support the new token to contact the company. Blockchain information for the

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