Scudo: A New Era for Gold Transactions
According to an official announcement from Tether, the company has introduced Scudo, a new pricing unit designed for Tether Gold (XAU₮), aiming to make gold a widely accessible payment option.
What is Scudo?
A Scudo is defined as one-thousandth of a troy ounce of gold, or the equivalent of one-thousandth of XAU₮. This design makes gold pricing and transfers more intuitive and straightforward.
Why Scudo?
In the past, users had to handle fractional parts of XAU₮, which could complicate transactions and pricing. With Scudo, users can now trade using whole numbers or simple fractions, making gold easier to use.
Gold Backing and Transparency
While Scudo changes how gold is measured, Tether Gold remains fully backed by physical gold stored in secure vaults, with ownership verifiable on-chain via Tether’s asset tracking tool.
- Scudo does not alter the structure or foundation of XAU₮.
- It offers a simpler way to measure and trade gold value, especially as gold prices continue to rise.