Tether Announces Expansion of Euro EURT, XAUT on ‘World’s First Social Infused Exchange’

The stablecoin issuer announced the listing of Euro Tether (EUR₮) and Tether Gold (XAU₮) on XT.COM, which is being touted as the “world’s first social-transaction exchange.” The latest move will enable users on the platform to access XAU₮ – which represents ownership of physical gold – as well as the ability to transact with EUR₮ – a stablecoin pegged 1:1 to the euro.

News of the expansion comes amid growing scrutiny in the stablecoin sector.

• The addition of EUR₮ and XAU₮ will allow users on XT.COM to gain access to two stable coins developed by Tether, the company said in a statement. statement,
• Tether CTO Paolo Ardoino reflected on the upcoming listing, saying,

“As the company behind the leading stablecoin in the market today, recognized for its exceptional liquidity, expanding market share and broad acceptance, it is committed to unlocking financial liberation and promoting economic inclusion for communities around the world.” underlines our firm commitment to

• Launched by Tether in 2020, XAU₮ represents ownership of one troy ounce of gold held in Swiss vaults controlled by the company.
• On the other hand, EUR₮ is a euro-pegged stablecoin also backed by Tether that mirrors the euro through a decentralized network.
• Currently, the market capitalization of XAU₮ and EUR₮ is $474 million and $44 million, respectively. Both stablecoins have managed to score a number of listings, despite the figure being largely undercut by the US dollar-backed USDT.
• In another significant milestone for the firm, Tether signed a memorandum of understanding (MoU) with the government of Georgia in June to establish the country as a global hub.
• The dominance of USDT has increased significantly over the past year due to the banking crisis and subsequent stablecoin market turmoil, which has brought it to over $83 billion in circulation.

The stablecoin issuer announced the listing of Euro Tether (EUR₮) and Tether Gold (XAU₮) on XT.COM, which is being touted as the “world’s first social-transaction exchange.” The latest move will enable users on the platform to access XAU₮ – which represents ownership of physical gold – as well as the ability to transact with EUR₮ – a stablecoin pegged 1:1 to the euro.

News of the expansion comes amid growing scrutiny in the stablecoin sector.

• The addition of EUR₮ and XAU₮ will allow users on XT.COM to gain access to two stable coins developed by Tether, the company said in a statement. statement,
• Tether CTO Paolo Ardoino reflected on the upcoming listing, saying,

“As the company behind the leading stablecoin in the market today, recognized for its exceptional liquidity, expanding market share and broad acceptance, it is committed to unlocking financial liberation and promoting economic inclusion for communities around the world.” underlines our firm commitment to

• Launched by Tether in 2020, XAU₮ represents ownership of one troy ounce of gold held in Swiss vaults controlled by the company.
• On the other hand, EUR₮ is a euro-pegged stablecoin also backed by Tether that mirrors the euro through a decentralized network.
• Currently, the market capitalization of XAU₮ and EUR₮ is $474 million and $44 million, respectively. Both stablecoins have managed to score a number of listings, despite the figure being largely undercut by the US dollar-backed USDT.
• In another significant milestone for the firm, Tether signed a memorandum of understanding (MoU) with the government of Georgia in June to establish the country as a global hub.
• The dominance of USDT has increased significantly over the past year due to the banking crisis and subsequent stablecoin market turmoil, which has brought it to over $83 billion in circulation.