Tether Gold is available on the Celsius Network. It is a digital asset that provides ownership of physical gold (XAU) held in Switzerland.
He announced via Twitter that he is now available on the Celsius Network, an interest-bearing cryptocurrency platform provider.
Founded in 2017, Celsius Network is a Blockchain based marketplace platform. Where membership provides access to selected financial services. These are not available through traditional financial institutions.
Tether Gold (Gold) is a digital asset offered by TG Commodities Limited. A full XAU full token represents a fine ounce of troy gold on a London Good Delivery bar.
The assigned gold is identifiable with a unique serial number, purity and weight. Through the collaboration, XAU ₮ holders will be able to deposit their holdings in the Celsius wallet. And earn up to 3% APY from Celsius Network.
“The addition of Tether Gold to Celsius’ market leading platform is a strong endorsement of Tether Gold, and will allow our growing customer base to earn interest on their Celsius holdings …”
“In these times of seemingly endless economic uncertainty and quantitative easing, we are seeing increasing demand for Tether Gold. We anticipate an appetite ready to keep Tether Gold on such an innovative and rewarding platform. ”.
Currently, XAU ₮ has a market capitalization of approximately $ 84 million, it is a stable coin backed by gold.
It combines the best: Gold ownership, which aims to provide direct exposure to the price of gold.
The ease of accessibility of traditional assets, such as ETFs. And the transactional utility of a digital token.
Celsius Network’s decision to support XAU á will give cardholders a monumental opportunity to earn a positive return by owning the oldest value store in the world.
Tether Gold at Bitfinex with Bitcoin
Earlier this year, it was learned that the cryptocurrency exchange Bitfinex allowed users to trade Tether Gold with Bitcoin.
Bitfinex launched three pairs of trading margin for Tether Gold. A digital asset backed by physical gold, which was unveiled by Bitfinex’s subsidiary Tether.
The cryptocurrency exchange allowed traders to trade Tether Gold with Bitcoin, as well as with the US dollar-backed stablecoin Tether (USDT).
Margin trading, a feature that allows traders to borrow funds to increase leverage, will require an initial equity of 20% and will provide a maximum leverage of 5x, Bitfinex noted.