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BiyaPay Analyst: Tether Propels Gold Micro-Unit Scudo, Driving Mainstream Adoption of On-Chain Gold Trading
BlockBeats News, January 8th. Recently, Tether announced that it has introduced a new unit of account, "Scudo," for its gold-backed token XAUT. One Scudo is equal to 1/1000 of a troy ounce of gold, approximately $4.48 at the current price, significantly lowering the barrier to entry for gold participation. Data shows that the market cap of XAUT has reached about $2.3 billion, and the tokenization of gold is accelerating towards everyday trading and payment scenarios.
BiyaPay analysts pointed out that gold assets are deeply integrating with stablecoins and crypto trading, and they will increasingly appear in both transactional and hedging portfolios in the future. BiyaPay currently supports direct USDT trading for US stocks, Hong Kong stock futures, and spot contracts, while also supporting trading of gold and other precious metals. Users can strategically position themselves in the same account across crypto assets, gold, and global capital markets to seize the new trend of parallel development between "digital gold" and financial assets.
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