Tether Says Its Newest Stablecoin Is Backed by Gold in Swiss Vault

Tether Says Its Newest Stablecoin Is Backed by Gold in Swiss Vault

Stablecoin issuer Tether is launching a new token backed by physical gold. Tether Gold “represents ownership of one troy fine ounce of physical gold on a specific gold bar,” a press release said Thursday. The new stablecoins, with the XAU₮ ticker, will be issued on ethereum and tron as ERC-20 and TRC20 tokens.