The issuer of the USDT stablecoin, Tether, has partnered with The Open Network (TON) blockchain to launch the gold-backed XAUt0 stablecoin, a derivative token backed by Tether Gold (XAUt). This integration will enable millions of Telegram users to access the XAUt0 token via the native wallet of the application.
As Telegram keeps integrating significant blockchain features and functionalities, this development marks another notable addition to its platform. Closely tied with Telegram, TON continues partnering with key market players in the blockchain industry to expand further in this domain.
The announcement was first shared by USDT0, a unified liquidity protocol for USDT stablecoin. It noted that Tether Gold laid the groundwork for tokenized gold on the blockchain, and its adoption is now accelerating rapidly.
“Launched in 2020, Tether Gold (XAUt) was one of the earliest and most groundbreaking projects to bring real-world assets onchain at scale,” said USDT0 in the X post, adding, “XAUt0 offers the best of both worlds: a timeless hedge against inflation, delivered with the flexibility and freedom that modern finance demands.”
As per the blogpost, XAUt0 is built on LayerZero’s Omnichain Fungible Token (OFT) standard, just like USDT0, allowing users to seamlessly and securely move their gold between multiple blockchain networks while ensuring full 1:1 backing of physical gold holdings.
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