Bitcoin

Tether launches its new stablecoin Tether Gold

January 28, 2020 by Victor

While the Stablecoin USDT has hit the market, crypto, Tether, the company that developed it, deploys his ingenuity to put forth another stablecoin. Thing promised, thing due, because it has just launched a new digital asset referred to as Tether Gold (XAUt).

Property rights verifiable

Backed by physical gold, Tether Gold is hosted on the networks of Ethereum and Tron via tokens ERC-20 and TRC-20.
The holders of the new stablecoin acquire the exclusive ownership right over the gold, the equivalent of the chips they possess.
Therefore, gold would be identifiable in a unique way with a serial number, a weight and a purity, a property that the owners can check in real time via a Web site assigned to this task.

With steep barriers to entry

Although the idea of owning tokens backed by gold to seduce more than one, Tether, however, has adopted a series of provisions designed to restrict access to the token.
To begin with, the purchase of XAUt should be preceded by obtaining a verified account with the TG Commodities Limited. In addition, it can only be done in exchange for the u.s. dollar.
A minimum of 50 XAUt has been fixed as of the time of purchase, a value of approximately $ 75,000. However, Tether is not ponctionne no filing fee for the detention of XAUt, however, the holders should pay a fee calculated on a basis set in advance, only to buy tokens from the enterprise.
As for the trading, tokens XAUt are only available on the crypto-exchanges and it is the responsibility of the latter to determine the number of servings possible for the split tokens.
In addition, Bitfinex will host the XAUt on its platform.
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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.