Tether Gold offers 24/7 access to gold

Tether Gold (XAU₮), a digital asset providing ownership of physical gold (XAU) custodied in Switzerland, is being used as a means of obtaining around-the-clock exposure to the precious metal in an emerging alternative market.

XAU₮ is available for purchase or sale 24 hours a day, seven days a week on the Bitfinex platform, via pairs Tether Gold/US Dollar (XAUt/USD) and Tether Gold/Tether (XAUt/USDt). 

 
XAU₮’s, which currently has a market capitalisation of approximately USD50 million, is the world’s biggest gold-backed stablecoin, far surpassing that of its nearest rivals. As demand for gold soars after the recent announcement of unlimited stimulus by the US Federal Reserve, investors are seeking out a variety of safe havens amid unprecedented market turmoil in the wake of the coronavirus. 
 
“People like owning gold through Tether Gold because of the control and accessibility that Tether Gold offers,” says Paolo Ardoino, CTO at Tether. “As a blockchain-based token that enables you to hold gold without annual fees Tether Gold will grow from strength to strength. Tether Gold will undoubtedly establish itself as the dominant digital token representing gold ownership.”
 
XAU₮ combines the best of three distinct worlds: ownership of gold which is intended to provide direct exposure to the price of gold, the ease of accessibility of traditional assets such as Exchange Traded Funds (ETFs), and the transactional utility of a digital token. XAUt removes a great deal of friction and cost associated with owning gold. While the underlying physical gold will remain in the custodian’s vaults, XAUt will facilitate key economic qualities of gold – such as ownership and value – to flow seamlessly around the world.