Cryptocurrency Q&A
Where is Tether gold stored?
Where is Tether gold stored?
Valentino
Wed Jun 26 2024
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7 answers
1352
Could you elaborate on the storage mechanisms employed for Tether gold? I'm particularly interested in understanding how this cryptocurrency's underlying asset, often referred to as 'gold,' is secured and maintained. Are there specific vaults or secure facilities where the physical gold is kept? Or is it more of a digital representation backed by real gold holdings somewhere? Clarifying this aspect is crucial for investors and enthusiasts alike to have a deeper understanding of Tether's value proposition.
7 answers
AzureWave
Fri Jun 28 2024
Each XAUt token is equivalent to one troy fine ounce of London Good Delivery gold, a globally recognized standard for gold bullion.
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SamuraiHonor
Fri Jun 28 2024
The ERC20 token standard ensures compatibility with a wide range of wallets and exchanges, making XAUt tokens accessible to a broad audience.
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Isabella
Fri Jun 28 2024
The gold associated with XAUt tokens is securely stored in a vault located in Switzerland, a country known for its strict financial regulations and security measures.
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SolitudeEcho
Fri Jun 28 2024
The ownership of physical gold is directly represented by the possession of XAUt tokens. Each on-chain address holding XAUt tokens is associated with specific gold bars.
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Dario
Fri Jun 28 2024
Tether Gold, designated as XAUt, is an ERC20 token designed to represent a specific asset in the digital realm.
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