ChainCatcher reports that, according to the official blog, stablecoin issuer Tether has announced the launch of Scudo, a new accounting unit for the tokenized gold product Tether Gold (XAU₮), aimed at making gold a more accessible means of payment for everyone.
Tether defines one Scudo as one-thousandth of a troy ounce of gold (or one-thousandth of XAU₮), enabling Tether Gold to achieve clearer price labeling, more convenient transfers, and more intuitive use of gold value. Users no longer need to send or price assets using the complex decimal fractions of XAU₮; instead, they can trade in whole or partial Scudo units. This not only makes gold a more practical store of value but also a more convenient medium of exchange.
Tether Gold is still fully backed by physical gold stored in secure vaults, and ownership can be verified on-chain through Tether’s asset tracking tools. Scudo does not alter the structure or backing of XAU₮ but provides a simpler way to measure and trade gold value, especially in a context of rising prices.
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