Today, Tether has announced the launch of XAUt0, a gold-backed token that will be available on multiple blockchains. This product represents the evolution of Tether Gold (XAUt), providing users the ability to own a physically backed asset while benefiting from digital asset advantages.
What is XAUt0?
XAUt0 is the omnichain deployment of Tether Gold that enables users to securely and easily move their XAUt tokens across blockchains. Each XAUt0 token represents ownership of a specific gold bullion bar according to the 'London Good Delivery' standards, securely stored in a Swiss vault.
Advantages of Tokenized Gold
XAUt0 offers users numerous advantages over traditional investments in physical gold:
- 24/7 Access: The ability to inquire, sell, or use gold at any time.
- Secure Digital Storage: Provides economic security of gold with the self-custody of digital wallets.
- Infinite Divisibility: The ability to trade gold in fractional amounts for easier portfolio diversification.
- Physical Redemption Options: XAUt0 can be exchanged for XAU, which in turn can be redeemed for physical gold.
Launch on TON Platform
The first deployment of XAUt0 will take place on The Open Network (TON) in collaboration with The Open Platform, enabling millions of Telegram users to use tokenized gold. At this stage, programs will be launched to attract users to the TON ecosystem.
The launch of XAUt0 once again emphasizes the return of cryptocurrencies to the market of assets backed by physical goods. This announcement may create new economic opportunities for users and bring tokenized gold to new blockchains.
