Here is some recent news:
Ethereum block explorer Etherscan shows that there are 3,990 XAUT tokens issued as of the time of writing. If we assume a price of $1,560, that’s about $6.2 million worth of gold that’s currently tokenized via XAUT.
https://coincodex.com/article/6712/tether-announces-gold-backed-tether-gold-token/
also they have competition:
With asset-backed blockchain tokens becoming more widespread, it’s not too surprising to see that gold is one of the first assets that’s commonly tokenized. Singapore-based Digix offers tokenized gold with their Digix Gold Token DGX, 0.35% token, while US-based Paxos has created PAX Gold PAXG, 0.18%.
I agree that all of these can be shut down by aggressive Government action which we have seen before.
I would say that if Tether does everything neatly this time, this competition would have a very difficult time. Tether generally has strong partners and could quickly overtake this competition. Ethereum block explorer Etherscan shows that there are 3,990 XAUT tokens issued as of the time of writing. If we assume a price of $1,560, that’s about $6.2 million worth of gold that’s currently tokenized via XAUT.
https://coincodex.com/article/6712/tether-announces-gold-backed-tether-gold-token/
also they have competition:
With asset-backed blockchain tokens becoming more widespread, it’s not too surprising to see that gold is one of the first assets that’s commonly tokenized. Singapore-based Digix offers tokenized gold with their Digix Gold Token DGX, 0.35% token, while US-based Paxos has created PAX Gold PAXG, 0.18%.
I agree that all of these can be shut down by aggressive Government action which we have seen before.
