Tether Introduces Scudo as Unit for Tether Gold

Tether has introduced Scudo, a unit of account for Tether Gold, globally. This unit is equivalent to 1/1000 of a troy ounce of gold, making gold more accessible.

Tether Operations Limited, under CEO Paolo Ardoino, emphasizes lowering barriers to gold ownership by utilizing Scudo. Tether Gold’s XAU₮ token remains unchanged in its backing and custody. “Gold is once again proving its role as the ultimate store of value alongside Bitcoin,” Ardoino noted, adding that “Scudo lowers barriers to entry by making gold easier to own, price, and transact,” which underlines the challenges related to user experience in digital assets.

The introduction of Scudo aims to ease gold transactions by providing a practical denomination method. This enhances user accessibility to gold investments and simplifies transaction processes.

The financial sector eyes this move as a step towards modernizing access to gold-backed digital assets. While it may not affect protocols directly, it frames gold alongside digital currencies.

Scudo is comparable to Bitcoin’s satoshis, adding a unit for practical exchanges rather than large-value storage. Tether previously used this strategy with digital currencies for enhanced usability.

With Tether Gold’s market cap recently doubling, the Scudo initiative may bolster demand for tokenized gold by easing integration into mainstream financial systems and digital payments.