Tether has announced the launch of XAUt0, a new token that allows users to own physically backed gold on leading blockchains.
What is XAUt0?
XAUt0 is an omnichain token built on Tether Gold (XAUt). Each XAUt0 token corresponds to one fine troy ounce of gold stored securely in a Swiss vault, meeting London Good Delivery standards.
Benefits of XAUt0
XAUt0 offers users various advantages, including:
* **24/7 Access**: Ability to manage assets anytime. * **Secure Digital Storage**: Ownership of gold without the need for physical custody. * **Infinite Divisibility**: Possibility to buy and sell in fractional increments. * **Physical Redemption Options**: Ability to exchange XAUt0 for physical gold.
Partnership with The Open Network
The first deployment of XAUt0 will take place on The Open Network (TON). The partnership with TON Foundation and The Open Platform aims to provide Telegram users with easy access to tokenized gold.
The launch of XAUt0 illustrates Tether's commitment to integrating physical gold with modern digital assets, offering users convenient and secure investment solutions.
