‘Like sats for Bitcoin’: Tether creates tiny gold unit as onchain demand grows
Tether has introduced a new digital gold unit called "Tether Gold" (XAUT), designed to meet the growing on-chain demand for gold-backed assets. This unit is intended to function similarly to satoshis for Bitcoin, allowing for smaller transactions and increased accessibility. Tether Gold is backed by physical gold, with each token representing one troy ounce of gold stored in a secure vault. The launch aims to enhance liquidity and facilitate easier trading of gold in the cryptocurrency market.
Read the full article: Coin Telegraph