The financial world is very interested in blockchain versions of securities. Now the rules of the game are changing for commodities. Tether, the company behind USDT, the world’s largest stablecoin, announced today that gold dividend payments will begin with Tether Gold (XAU₮).
Gold Dividend
Elemental Royalty Corporation and Tether will work together. The company shared the good news by saying “this is a historical turning point for the gold industry”. Accordingly, Elemental Royalty Corporation, a publicly traded gold royalty company, will distribute dividends to its shareholders and make payments in gold to those who wish. Since it is a gold company, this situation is very meaningful for investors.
XAU₮ is a stablecoin just like USDT. USDT Just as it is indexed to the dollar, XAU₮ is also backed by physical gold. Tether is not the only company combining blockchain and gold, but it has become the first company to allow its use in dividend payments.
Tether CEO Paolo Ardoino said;
“Gold It has always been one of the world’s most reliable stores of value, but it is difficult to directly integrate it into modern financial distribution models. Using XAU₮ for shareholder dividends completely changes this dynamic. “This is a significant step forward for the gold industry and shows how tokenized assets can unlock new financial models that were previously unattainable.”
Tether Gold (XAU₮)
Backed by physical gold TetherGold It is a crypto asset offered by TG Commodities Limited. Each 1 XAU₮ equals 1 ounce of gold in a London Good Delivery bar. This token, distributed on the Ethereum and Tron network, can be “identified by a unique serial number, purity and weight, and redeemed in the form of physical gold,” as Tether puts it.
Tether Gold (XAUt) is traded with a market value of $2.5 billion and a daily volume of $407 million. This token, which is traded on centralized exchanges and DeFi platforms, allows investors to buy and sell gold quickly and cheaply at any time of the day.
Tether gold It also publishes reserve audit reports and has them audited by BDO. BDO, one of the world’s leading companies in the field of tax, accounting and consultancy, has been USDT It was the solution the company found to provide confidence in the market after its fuds.
