Popular stablecoins issuer Tether Inc has made another step towards global digitalization by introducing a new ERC20-based gold-pegged stablecoin called Tether Gold (XAU₮).
According to the official announcement, each XAU₮ asset "represents ownership of one troy fine ounce of physical gold."
Tether claims its gold stablecoin is the only product that offers zero custody fees and has direct control over the physical gold storage. All funds, according to Tether, are held in a Switzerland vault.
Tether also said it has created a TRC20 version for the TRON blockchain.
Previously iHodl reported that Tether was planning to launch a new version of the stablecoin USDT backed by a basket of commodities such as gold, oil, and rubber.
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