XAUT

By applying the technology and functionality of Tether’s world-leading fiat-backed stablecoins to physical gold, XAUt will dramatically mobilize gold markets, significantly lowering barriers to entry for non-institutional investors in the process. XAUt will mirror Tether’s existing products in many ways, but there are several important differences, including the creation of a new entity that will issue XAUt tokens, Tether Gold.

Each individual XAUt token represents 1 troy fine ounce of London Good Delivery gold held in a vault in Switzerland, and will be capable of being fractionalized up to six decimal places (i.e. increments as small as 0.000001 troy fine ounce).

Holders of XAUt will be able to redeem their tokens for the associated physical gold, subject to the payment of fees and minimum redemption requirements. The gold will be delivered at a location of the holder’s choosing in Switzerland. Rather than take physical delivery in Switzerland, a holder can ask Tether Gold to make arrangements to attempt to sell the gold and take the proceeds from that sale.