Tether Launches Scudo to Simplify Gold Transactions
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Denomination Simplification: Tether's introduction of Scudo as a smaller denomination for gold simplifies how users price and transfer gold value on-chain, addressing the inconvenience of small transactions amid high gold prices.
- Maintained Transparency: Scudo does not alter XAUT's backing, custody, or fee structure, allowing users to verify their gold holdings on-chain, ensuring transparency and security.
- Market Adaptation: The rollout of Scudo comes at a time when gold prices are consistently high, reflecting a clear divergence between traditional safe-haven assets and volatile markets, thus meeting the demand for stable assets.
- Enhanced User Friendliness: The launch of Scudo makes digital gold more practical by reducing complexity for users engaging in small transactions, thereby increasing accessibility to gold as a digital asset.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
