BiyaPay Analyst: Tether Launches Scudo, a Micro Unit for Gold, Accelerating the Popularization of On-Chain Gold Trading
TL;DR
Tether introduces 'Scudo', a micro unit for its gold token XAUT, equal to 1/1000 troy ounce (~$4.48), lowering entry barriers for on-chain gold trading. BiyaPay analysts note gold's integration with crypto and stablecoins, expanding into everyday transactions and portfolios.
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On January 8th, Tether recently announced the introduction of a new unit of measurement, "Scudo," for its gold token XAUT. One Scudo is equal to 1/1000 troy ounce of gold, which is approximately $4.48 at the current price, significantly lowering the barrier to entry for gold trading. Data shows that XAUT's market capitalization has reached approximately $2.3 billion, and the tokenization of gold is rapidly expanding into everyday transactions and payments.
BiyaPay analysts point out that gold assets are deeply integrated with stablecoins and crypto trading, and will appear more frequently in trading and hedging portfolios in the future. BiyaPay currently supports direct trading of US and Hong Kong stock futures and spot contracts using USDT, while also supporting trading in precious metals such as gold. Users can simultaneously allocate crypto assets, gold, and global capital markets within the same account, seizing the new trend of parallel development of "digital gold + financial assets".