Paolo Ardoino, the chief executive officer (CEO) at Tether, has taken to his X account to give an official comment on the upcoming listing of recently launched stablecoin XAUT by the world’s largest crypto exchange, Binance. Binance to list XAUT, but there’s a catch. XAUT is a ticker for Tether Gold, and as is clear from the title, this stablecoin is backed with the world’s most precious metal and the oldest store of value and inflation hedge — gold. However, Binance will list it with a seed tag, meaning that this asset is new and could show high volatility.
XAUT will be paired with several major cryptocurrencies for trading. The new spot pairs are XAUTUSDT, XAUTBTC, XAUTUSDC and XAUTTRY. Ardoino expressed satisfaction and joy at this news, commenting on it with a “handshake” emoji. According to the post by Binance, users can already start depositing XAUT to start trading later. Withdrawals will open on March 27 at 1:30 p.m. (UTC).
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