Celsius raises the gold standard with Tether Gold
Tether Gold (XAU₮), a digital asset providing ownership of physical gold (XAU) custodied in Switzerland, is now available on Celsius Network, the industry-leading cryptocurrency interest-earning platform and mobile app.
Celsius Network’s decision to support XAU₮ will give holders the monumental opportunity of being able to earn a positive yield on holding the world’s oldest store of value. Each XAU₮ token is backed by one fine troy ounce of gold on a physical bar of gold held in a vault in Switzerland. XAU₮ holders will be able to deposit their holdings to the Celsius wallet and earn up to 3 per cent APY from Celsius Network.
“Tether Gold’s addition to Celsius’s market-leading platform is a great endorsement of Tether Gold, and will enable our growing customer base to earn interest on their holdings from Celsius,” says Paolo Ardoino, CTO at Tether. “In these times of economic uncertainty and seemingly endless quantitative easing, we are seeing growing demand for Tether Gold. We anticipate a ready appetite for holding Tether Gold on such a rewarding and innovative platform.”