Tether Introduces New Gold-Backed Stablecoin, XAUt, to the Market

Stablecoin issuer Tether has launched a new gold-backed stablecoin called XAUt, marking a significant step in the cryptocurrency landscape. The company’s official announcement of the attestation for XAUt revealed that the token is backed by over 7.7 tons of physical gold and stored securely in vaults in Switzerland. This development signifies a significant move towards greater transparency and increased reliability within the market.