Stablecoin issuer Tether is launching a new token backed by physical gold. Tether Gold "represents ownership of one troy fine ounce of physical gold on a specific gold bar," a press release said Thursday. The new stablecoins, with the XAU₮ ticker, will be issued on ethereum and tron as ERC-20 and TRC20 tokens. "Tether Gold is launching in response to the growing demand for a digital asset that provides exposure to the world's most enduring asset and a geopolitical need for an alternative financial system," a spokesperson said in an email. The gold backing each token will be stored in a Swiss vault, the release ... (full story)