Tether introduces a new unit of account, "Scudo," for Tether Gold (XAU₮).
PANews reported on January 6th that, according to its official blog, stablecoin issuer Tether announced the launch of Scudo—a new unit of account for its tokenized gold product, Tether Gold (XAU₮), aiming to make gold an accessible means of payment again. Tether defines one Scudo as one-thousandth of a troy ounce of gold (or one-thousandth of XAU₮), enabling clearer price labeling, easier transfers, and a more intuitive use of gold's value. Users no longer need to send or price assets in complex decimal fractions of XAU₮; instead, they can trade in whole or partial Scudo units. This not only makes gold more practical as a store of value but also more convenient as a medium of exchange. Tether Gold is still fully backed by physical gold stored in secure vaults, and its ownership can be verified on-chain through Tether's asset tracking tools. Scudo does not change the structure or underlying basis of XAU₮ but provides a simpler way to measure and trade gold value, especially in the context of continuously rising prices.
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