Cryptocurrency

Tether launches a currency based on gold: XAU

In the history of the cryptocurrencies there was a time that they took to various tokens that are backed by other assets. The most common was to support in a fund of currency, such as dollars or euros. There were also a few little common, backed by assets such as property. In this case we bring you a recent case and unexpected, being Tether with their currency backed in gold, XAU.

Equivalence

Before anything else, explain in what consists the tokens as the Tether with XAU, being the equivalence of assets. We can use one of the most famous and controversial of the page, being the Petro from Venezuela. The Petro is the currency created by the Central Bank of the country, considering that each coins are backed by barrels of oil. Implying that the value of the currency depends directly on the value of a barrel of oil. According to what has been said, it is a 1:1 ratio, eliminating in this way the volatility of the crypto, but depend on the market of the asset. This relationship is one that seeks to raise Tether and the gold, raising the value of the currency depends on the market of precious metals.

On XAU

By a report of the official website of the Tether, was that announced the birth and launch of the XAU. The publication, titled “The launch of Tether Gold (XAU ₮) meets the growing demand for exposure to the digital assets most durable in the world.“ We are pleased to announce the addition of a new product, Tether Gold (XAU ₮), which provides the security of a digital asset linked to the physical gold (XAU). On the basis of a history of product innovation, each token XAU ₮ represents the property of an ounce, fine troy of gold in a gold bar specific. XAU ₮, which is available as a token CKD-20 in the chain of blocks Ethereum and as a token TRC20 in the chain of blocks TRON, can be transferred to any address in the string from the wallet Tether of the buyer. So, Tether Gold raises up a relationship with the gold, proposing a way of people having control of the physical gold. Tether Gold (XAU ₮) is the only product from the competition that offers rates of custody zero and has direct control over the physical storage of gold. Kept securely in a Swiss vault, by adopting the best safety measures and anti-threat. Today, Tether Gold (XAU ₮) is the best way to keep the gold. The following two tabs change content below. I am a student of economics, interested in innovation and technological development, always faithful to that tomorrow will be a better day.

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