Tether is investing $150 million in Gold.com to expand tokenized gold sales and enable customers to buy physical bullion using its stablecoins, including USDT and XAUT. The partnership aims to broaden global access to digital gold and integrate with existing tokens like PAXG.
PAXG's market cap surpassed $2 billion after demand for tokenized gold surged 450%, pushing the token to $4,997. Paxos explained how physical gold is converted into PAXG and emphasized redeemability and custody safeguards.
Tether unveiled Scudo on Tuesday, a new unit of account for its gold-backed token XAUT to enable fractional gold payments as bullion prices climb. The change aims to make tokenized gold practical for microtransactions and merchant use.
Binance CEO Changpeng Zhao will face off with economist Peter Schiff in a high-profile debate at Binance Blockchain Week on Bitcoin versus tokenized gold. The discussion could shape investor sentiment and influence regulatory thinking around BTC and asset-backed tokens like PAXG and XAUT.