Tether, issuer of the USDT stablecoin, and The Open Network (TON) have announced the launch of a new gold-backed stablecoin, XAUt0.
Partnership Between Tether and TON
Tether has partnered with The Open Network to create a new gold-backed stablecoin, XAUt0. This integration will allow millions of Telegram users to access the XAUt0 token via the built-in wallet of the application.
Features of XAUt0
XAUt0 is a derivative token backed by Tether Gold (XAUt). This new product combines the benefits of physical gold with the opportunities of blockchain technology, offering liquidity and protection against inflation.
The Future of Tokenized Gold
The XAUt0 token is built on LayerZero's Omnichain Fungible Token (OFT) standard, allowing users to securely move their gold assets across different blockchain networks while ensuring full 1:1 backing of physical gold holdings.
The launch of XAUt0 highlights Tether's and TON's commitment to continue introducing innovative solutions in the cryptocurrency space, expanding the accessibility of gold as an asset for users.
