Tether's Gold-Backed Stablecoin Makes Its Debut on FTX Exchange

News
Fri, 03/06/2020 - 14:59
Alex Dovbnya
FTX, one of the leading derivatives exchanges, offers futures trading for Tether Gold (XAUT)
Cover image via www.shutterstock.com
Contents

Cryptocurrency derivatives exchange FTX has made an announcement about listing Tether Gold (XAUT). The stablecoin, backed by gold, is a secure Switzerland-based vault.   

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More gold futures

From now, FTX users will be able to trade XAUT against the US dollar. Apart from using the XAUT/USD pair for spot trading, traders can also buy and sell Tether Gold futures contracts that are either perpetual or expire every quarter.      

If you register with the help of this referral link, you will be able to get a five percent discount on all trading fees. 

Tether vs. Paxos 

Back in January, FTX also listed the gold-pegged stablecoin of Tether's bitter rival Paxos that was launched back in September 2019.   

As reported by U.Today, Tether Gold recently reached a market cap of  $21 mln, thus surpassing Paxos' lustrous token in a relatively short span of time.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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