Tether Introduces Scudo for Simplified Gold Transactions

According to PANews, Tether, a stablecoin issuer, has announced the launch of Scudo, a new accounting unit for its tokenized gold product, Tether Gold (XAU₮). This initiative aims to make gold a more accessible payment method for everyone. Tether defines one Scudo as one-thousandth of a troy ounce of gold (or one-thousandth of XAU₮), facilitating clearer price indications, easier transfers, and more intuitive use of gold value. Users can now trade in whole or fractional Scudo units, eliminating the need to send or price assets in complex decimal fractions of XAU₮. This development enhances gold's practicality as a store of value and its convenience as a medium of exchange. Tether Gold remains fully backed by physical gold stored in secure vaults, with ownership verifiable on-chain through Tether's asset tracking tool. Scudo does not alter the structure or backing of XAU₮ but offers a simpler way to measure and trade gold value, especially amid rising prices.