Odaily Planet News: According to official news, Tether has officially introduced a new pricing unit for Tether Gold (XAUT) called Scudo. This unit aims to reintroduce gold as a means of payment. One Scudo is defined as one-thousandth of a troy ounce of gold or one-thousandth of an XAUT. This move addresses the issue users face when transacting or pricing, where they have to deal with long decimal places, by introducing a simpler pricing method, making gold more practical in daily economic activities. Tether Gold is currently fully backed by physical gold stored in secure vaults. The introduction of Scudo does not alter the structure or backing mechanism of XAUT.
Tether Launches New Scudo Unit for Tether Gold (XAU₮)
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Summary
Tether has introduced a new token listing under its Tether Gold (XAU₮) stablecoin with the launch of Scudo. One Scudo equals one-thousandth of a troy ounce of gold, or one-thousandth of an XAU₮. The unit is designed to simplify gold transactions by reducing decimal complexity. Tether Gold remains fully backed by physical gold stored in secure vaults. The new token listing does not alter the asset backing or structure of XAU₮. This update appears in the latest cryptocurrency news cycle as a step toward expanding gold-based digital payments.
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