Road Town, British Virgin Islands--(Newsfile Corp. - November 1, 2024) - In a significant move for cryptocurrency enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of XAUT (Tether Gold) on October 30, 2024. The XAUT/USDT trading pair is now available to users of LBank Exchange.
XAUT (Tether Gold) Listing Banner
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8831/228451_27e32004f4bbb819_001full.jpg
Gold-pegged stablecoins represent a unique class of digital assets, combining the intrinsic value of gold - a long-standing safe-haven asset - with the agility and accessibility of blockchain technology. Traditionally, gold has been prized for its stability and ability to hedge against inflation and economic downturns, serving as a store of value for centuries. However, physical ownership of gold comes with notable limitations, including high storage and insurance costs, security risks, and limited liquidity due to restricted trading hours and location-based constraints. Gold-pegged stablecoins address these challenges by transforming gold into a digital form, allowing holders to own and transact in fractions of gold through tokens backed by physical reserves. Each unit of a gold-backed stablecoin is usually pegged 1:1 to a specified quantity of gold - often a fine troy ounce - stored in secure, regulated vaults. This model offers investors the dual benefits of physical gold's stability and blockchain's borderless, always-accessible trading capabilities. With the growing demand for low-volatility assets in the cryptocurrency market, gold-backed stablecoins provide an option for investors seeking stability without sacrificing the ease and flexibility of digital transactions. As financial markets increasingly value asset-backed digital tokens, gold-pegged stablecoins are poised to reshape how individuals and institutions manage and diversify their portfolios.
XAU₮: Bridging Gold's Stability with Blockchain's Flexibility - The Next Evolution in Digital Assets and Decentralized Finance
Tether Gold (XAU₮), launched in 2020 by TG Commodities Limited, is one such gold-pegged stablecoin that offers ownership of physical gold in digital token form. Each XAU₮ token represents one fine troy ounce of London Good Delivery gold, stored securely in a Swiss vault, and fractionalized up to six decimal places to allow small denominations. XAU₮ combines the tangible value of gold with blockchain's versatility, enabling investors to hold gold in a digital wallet rather than a vault. By bridging physical gold and digital assets, XAU₮ addresses storage and accessibility issues, allowing token holders to participate in the gold market with enhanced convenience and transparency. The XAU₮ token also adds a new layer of utility by making it possible to transact, hold, and even stake gold assets on blockchain-based platforms, adding liquidity and a transactional element to a historically static asset.
One of the standout features of XAU₮ is its flexibility and ease of trade. XAU₮ tokens are available on major exchanges and can be traded 24/7, unlike traditional gold markets that are limited by market hours. This around-the-clock availability allows users to manage their gold exposure in real-time, offering new liquidity levels that physical gold lacks. In addition, holders of XAU₮ tokens can redeem them for physical gold at designated locations in Switzerland or opt to sell the gold associated with their tokens for cash, providing versatile options for asset conversion and liquidity. XAU₮ also allows users to leverage their digital gold in decentralized finance (DeFi) applications, integrating gold-backed assets with lending, borrowing, and other financial services that previously catered to more volatile cryptocurrencies. This makes XAU₮ not only a stable asset but also an actively usable one within the decentralized finance ecosystem.
XAU₮ also serves as a secure, globally recognized asset that operates outside the traditional financial system, positioning it as a hedge against market instability. As a sovereign-neutral monetary unit, XAU₮ offers a stable alternative by combining gold's scarcity with blockchain's decentralized functionality. With XAU₮, Tether Gold enables users to leverage blockchain's transactional utility and the stability of gold, making it a highly accessible asset for diverse financial portfolios. As the digital gold ecosystem evolves, XAU₮'s integration with traditional and decentralized finance sectors alike marks a significant step in providing broader, more dynamic utility to gold assets.
More about XAUT Token
The minimum purchase on the Tether Gold (XAU₮) platform is 50 XAU₮, equivalent to approximately US$95,800 as of September 2023, with transactions conducted in USD. Smaller increments can be bought on trading platforms like Bitfinex, BTSE, BigOne, and Gate.io, which support trading pairs like XAU₮/USDT, BTC/XAU₮, and ETH/XAU₮. XAU₮ holders can redeem tokens for physical gold in one full bar increments (up to 430 XAU₮ for a complete bar) after verifying their account with TG Commodities Limited. TG Commodities handles secure delivery to Switzerland and offers an option to sell redeemed gold on the Swiss market, returning proceeds in USD minus a 25 basis point fee.
Learn More about Tether Gold:
Website: https://gold.tether.to/
Whitepaper: https://gold.tether.to/Tether%20Gold%20Whitepaper.pdf
X: https://x.com/tethergold
About LBank
LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 12 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users' funds and aims to contribute to the global adoption of cryptocurrencies.
Start Trading Now: lbank.com
Community & Social Media:
Telegram
Twitter
Facebook
LinkedIn
Instagram
YouTube
Press contact:
press@lbank.com
Business Contact:
LBK Blockchain Co. Limited
LBank Exchange
marketing@lbank.com
business@lbank.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228451
SOURCE: LBank
