Tether, the company behind the most popular stablecoin USDT, has announced the launch of two new products: Tether Gold (XAUt) and Euro Tether (EURt). These are two new tokens that are backed by physical gold and euros, respectively, and that aim to provide more options for traders and investors in the cryptocurrency market.
Tether Gold (XAUt) is a token that represents one troy fine ounce of gold on a London Good Delivery bar. Each XAUt token is backed by physical gold that is held in a Swiss vault.
According to Tether, XAUt has several advantages over traditional gold ownership, such as lower custody fees, no storage limits, fractional ownership, and 24/7 accessibility.
Euro Tether (EURt) is a token that is pegged to the value of the euro. Each EURt token is backed by euros that are held in Tether’s reserve account. EURt allows users to transact in euros without having to convert their cryptocurrencies or use fiat currency. EURt also enables cross-border payments and remittances in a fast and cheap way.
Tether Gold (XAUT) and Euro Tether (EURT) have Arrived on TX.com
Both XAUt and EURt are available on XT.com, a global cryptocurrency exchange that offers spot trading, margin trading, OTC trading, and other services. XT.com is the first exchange to list XAUt and EURt, and it supports trading pairs such as XAUt/USDT, XAUt/BTC, EURt/USDT, and EURt/BTC.
XT.com is also hosting a trading competition to celebrate the launch of XAUt and EURt. From July 6 to July 20, 2023, users who trade XAUt or EURt on XT.com can win prizes such as gold bars, iPhones, iPads, and XT tokens. The details of the competition can be found on XT.com’s website.
Tether Gold and Euro Tether are the latest additions to Tether’s portfolio of stablecoins, which also includes USDT, CNHt (Chinese yuan), and XAUT (another gold-backed token). Tether claims that its stablecoins provide transparency, security, and liquidity to the cryptocurrency market and that they are compliant with the relevant regulations and standards.