Tether Launches Scudo Unit for Tokenized Gold Product XAU₮
Tether states the new Scudo unit for Tether Gold aims to expand usability by enabling precise, Bitcoin-like fractional transactions in the tokenized gold market.
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Fact Check
The assessment is based on overwhelmingly consistent and high-authority evidence. The primary source is an official announcement directly from Tether's own website, which explicitly confirms the introduction of Scudo as a new unit of account for its tokenized gold product, Tether Gold (XAU₮). This is the strongest possible form of evidence. This announcement is further corroborated by multiple secondary sources from reputable cryptocurrency news outlets and exchanges, including Bitget, Binance, and TechFlow. These sources all report the same fact, often citing the official Tether announcement. There is no conflicting evidence among the provided sources. The one irrelevant source, concerning the price of USDT in Saudi Riyal, was correctly identified and has no bearing on the assessment. The consistency across a primary source and multiple secondary sources provides a high degree of confidence in the statement's truthfulness.
Summary
Tether has launched Scudo, a fractional accounting unit for its gold-backed token Tether Gold (XAU₮). Defined as one-thousandth of an XAU₮, equivalent to one-thousandth of a troy ounce of gold, Scudo facilitates more precise pricing and transfers, similar to Bitcoin’s Satoshi model. According to Tether’s official announcement, the introduction enhances flexibility and usability without altering the asset’s full physical gold backing.
Terms & Concepts
- XAU₮: Tether’s gold-backed digital token, with each unit representing one troy ounce of physical gold held in reserve.
- Scudo: A new accounting unit for XAU₮, defined as one-thousandth of an XAU₮ or one-thousandth of a troy ounce of gold.
- Satoshi: The smallest unit of Bitcoin, equal to one hundred millionth of a BTC, used as a reference model for Scudo’s divisibility.