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Tether Gold (XAU₮) announced that it has arrived on Celsius Network, “taking the definition of Gold Standard to the next level”, explains the press release.
Celsius Network is known for its “staking” system available for various assets and high-interest rates that a traditional system can only dream of: it is even possible to reach double-digit interest rates of 12%.
Tether Gold did not miss this opportunity and through the use of this gold pegged asset, Celsius users can earn interest in the XAU₮ stablecoin as well.
The leading platform in this sector was therefore, so to speak, rewarded by Tether, which recognized its value. Especially in this time of crisis, Celsius promises a passive income that a traditional system would not allow, hence it is very useful, as pointed out by the CTO of Tether and Bitfinex Paolo Ardoino:
“Tether Gold’s addition to Celsius’s market-leading platform is a great endorsement of Tether Gold, and will enable our growing customer base to earn interest on their holdings from Celsius. In these times of economic uncertainty and seemingly endless quantitative easing, we are seeing growing demand for Tether Gold. We anticipate a ready appetite for holding Tether Gold on such a rewarding and innovative platform.”
The numbers of the Tether Gold stablecoin
As far as Tether Gold is concerned, the figures are very positive and, with already more than $84 million, it has become the largest asset in the gold-backed stablecoin sector.
As a matter of fact, it’s not the first stablecoin of its kind but within a few months since its launch, it has outperformed all its competitors such as PAX Gold.
Finally, it should not be forgotten that gold is an interesting store of value, which is often difficult to buy and store, so for all those who want to invest in it with ease, Tether Gold becomes the ideal solution.