ChainCatcher reports that, according to the official blog, stablecoin issuer Tether has announced the launch of Scudo, a new accounting unit for the tokenized gold product Tether Gold (XAU₮), aimed at making gold a more accessible means of payment for everyone.
Tether defines one Scudo as one-thousandth of a troy ounce of gold (or one-thousandth of XAU₮), enabling Tether Gold to achieve clearer price labeling, more convenient transfers, and more intuitive use of gold value. Users no longer need to send or price assets using the complex decimal fractions of XAU₮; instead, they can trade in whole or partial Scudo units. This not only makes gold a more practical store of value but also a more convenient medium of exchange.
Tether Gold is still fully backed by physical gold stored in secure vaults, and ownership can be verified on-chain through Tether’s asset tracking tools. Scudo does not alter the structure or backing of XAU₮ but provides a simpler way to measure and trade gold value, especially in a context of rising prices.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Tether fires several top gold traders, hired just a few months ago from HSBC Bank
Gate News reports that on March 31, stablecoin issuer Tether laid off several top gold traders who had been recruited just a few months earlier from HSBC.
GateNews1h ago
Tether turns to KPMG for full USDT audit as U.S. expansion plans take shape
Tether is transitioning from monthly attestations to a full audit of its USDT reserves with KPMG, while also enhancing internal controls with PwC. This move, driven by ambitions for U.S. expansion and a major capital raise, signals a shift towards greater transparency and regulatory readiness.
CryptoNewsFlash9h ago
Does USDT have full reserves? Tether reportedly hired KPMG for a comprehensive audit
Tether is conducting a comprehensive financial audit of USDT, hiring KPMG and PwC to improve financial transparency and internal processes. This move comes as it prepares to expand into the U.S. market and raise funds, aiming to address outside doubts about its U.S. dollar reserves. Detailed information about Tether’s past reserves was revealed after a legal battle, showing changes in its asset allocation.
区块客03-30 11:15
Tether’s USDT Stablecoin Gears Up To Flip Ethereum In Market Cap
An ongoing event contract on Polymarket indicates Ethereum could lose its spot as the second-largest crypto by market cap this year.
Analysts expect Tether’s USDT stablecoin to overtake ETH’s overall valuation within the same period.
An ongoing event contract in Polymarket predicts Ethereum (ETH)
Blockzeit03-30 09:37
Ethereum may lose its second place! The rise of stablecoins impacts the global cryptocurrency market capitalization ranking.
Ethereum faces market pressure and is expected to lose its second-place spot in 2026, with the probability rising to 59%. The rapid expansion of stablecoins has brought their market value significantly closer to Ethereum. Analysis says Ethereum needs to maintain network usage and price to meet the competition, and to focus on whether it can preserve its core position.
GateNews03-30 08:01
Tether hires KPMG for auditing! $185 billion USDT is moving towards transparency, hoping to dispel reserve concerns.
Tether hires KPMG to conduct its first complete financial statement audit, transitioning towards financial transparency and strengthening the trust foundation of USDT. This initiative aligns with U.S. market regulations and a $20 billion financing plan, aimed at resolving past controversies and enhancing market confidence. Tether is also expanding real asset tokenization and maintaining strong financial strength to establish a trust foundation in the global financial market.
CryptoCity03-30 05:05
