Tether has launched Scudo, a new unit of account for Tether Gold (XAUT), intended to make gold easier to price, transfer, and use in everyday economic activity.In a press release, the firm said the launch comes as global gold prices and demand sit at record highs,

Bybit, a leading global cryptocurrency exchange, today announced the upcoming support for XAUT (Tether Gold) deposits and withdrawals on Mantle, expanding user access to tokenized gold while strengthening cross-chain asset functionality across the Mantle ecosystem.

Tether already offers a gold-backed digital token called XAUT. Each XAUT token is backed by real gold bars stored in secure vaults. According to Tether’s website, the company holds 1,329 gold bars, equal to 16.2 metric tons of Gold, to support XAUT.

Tether moved to establish a new unit of account for gold, arguing that transactions denominated in "Scudo" could simplify digital payments.

Tether launched Scudo, a new on-chain unit that simplifies the pricing and transfer of gold-backed value through its Tether Gold (XAU₮) token. ・Scudo enables fractional gold transactions, allowing users to send and price gold in smaller units while keeping XAU₮ fully backed by physical gold.

Tether launches Scudo to simplify gold payments using XAU₮, offering a new unit of account as demand for gold reaches record highs.

Tether has introduced a new unit of account, called Scudo, for its gold-backed token Tether Gold (XAUT), as demand for onchain exposure to bullion rises.

Detailed price information for Coinbase Global Inc Cl A (COIN-Q) from The Globe and Mail including charting and trades.

Tether invested an additional $100 million in Elemental Altus, increasing its 37.8% stake. Elemental merged with EMX, forming a mid-tier gold royalty company. Gold’s record high near $3,580 per ounce raises questions about other stablecoin issuers ...

In an X post, Kobeissi Letter noted that Tether’s gold holdings hit a record $12.9 billion in September, equal to 104 tons of actual gold. The value has more than doubled since the start of the year. The markets commentator said that Tether has been ...

FTSE 100 and dollar slide, while gold and silver hit record highs amid uncertainty over global trade

Stablecoin issuer Tether (CRYPTO: USDT) is exploring investments in the gold industry as part of its broader strategy to diversify profits from its cryptocurrency operations. What Happened: Quoting sources, Financial Times reported on Friday that the ...