Tether Gold (XAU₮), a digital asset providing ownership of physical gold (XAU) custodied in Switzerland, has been listed on BTSE, a financial technology exchange.
BTSE is the third cryptocurrency exchange to list XAU₮, which offers a means of obtaining exposure to gold and the new product is available to trade on the exhcnage’s All-In-One Order Book, which combines multiple trading pairs in one location. These include Tether Gold/US Dollar (XAUt/USD) and Tether Gold/Tether (XAUt/USDt).
“We are very excited to announce that Tether Gold will be the 20th currency available on the BTSE Exchange,” says Jonathan Leong, CEO and co-founder of BTSE. “The token can be traded and transacted instantly at any time, anywhere in the world. It also enables more people to access the traditionally upper-market asset as they have the freedom to acquire ownership of gold in small amounts at low cost.”
Paolo Ardoino, CTO at Tether , adds, “Tether Gold is growing from strength to strength. The listing on BTSE further underlines the popularity and trust in Tether Gold. As a blockchain-based token that offers ownership of gold without annual fees, Tether Gold represents an important evolution in the digital space.”
Tether Gold was launched earlier this year and currently has a market capitalisation of approximately $87 million the firm says, claiming it is the world’s biggest gold-backed stablecoin. Earlier this week, physical gold jumped to a fresh seven-and-a-half-year high, rising to $1,760 per ounce.