gold-backed – DIGIT INFO

What is Tether’s gold-backed stablecoin, ‘Alloy’ (aUSD₮)?

DIGIT — Fri, 21 Jun 2024 12:01:06 +0000

Alloy by Tether introduces a new class of digital assets called tethered assets, designed to track the price of various assets using robust stabilization mechanisms.

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Texas Lawmakers Introduce Bill Proposing to Establish a Gold-Backed Digital Currency

DIGIT — Sat, 08 Apr 2023 19:30:12 +0000

Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this currency could greatly benefit the Lone Star State and, as an alternative digital currency, it could provide Texas residents with the […]

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Iran and Russia Consider Issuing Gold-Backed Stablecoin, Officials Unveil

DIGIT — Wed, 18 Jan 2023 06:30:13 +0000

Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted. Russian, Iranian Representatives Talk Using Gold-Backed Stablecoin in Foreign Trade Iran’s central bank is considering the possibility of […]

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2 Tokenized Gold Crypto Projects Saw Massive Growth Over the Last 15 Months

DIGIT — Mon, 06 Jun 2022 18:00:51 +0000

15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG), for instance, has seen […]

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Tokenized Gold Market Caps Grew Significantly Last Month as Fresh Demand Drives Premiums

DIGIT — Wed, 23 Mar 2022 15:30:11 +0000

While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in 31 days from $424 million to today’s $611 million. PAXG […]

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Demand for Gold-Backed Tokens Brings Premiums as Precious Metal’s Value Jumps Higher

DIGIT — Sat, 19 Feb 2022 16:30:14 +0000

While stocks and cryptocurrency markets have floundered during the last week, the price of the precious metal gold has increased in value by 3.85% during the last seven days. An ounce of fine gold jumped from $1,826.92 on February 10, to $1,897.36 per ounce on February 19. Additionally, the top gold-backed crypto coins today have […]

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2 Gold-Backed Crypto Asset Market Caps Near $1 Billion, XAUT Jumps 19,000% in 23 Months

DIGIT — Tue, 25 Jan 2022 19:00:29 +0000

While reserve-backed crypto assets and stablecoin market valuations increased a great deal during the last year, gold-backed cryptocurrencies have also seen their market caps swell. Between the tokens tether gold and pax gold, the market valuations of these two gold cryptos are nearing a billion dollars in value with $742 million today. Tether Gold’s Market […]

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Swiss Bank Seba Launches Regulated Gold Token, Aims to Bolster ‘Digital Ownership of Physical Gold’

DIGIT — Sat, 18 Dec 2021 21:00:21 +0000

On December 15, FINMA-licensed Swiss bank, Seba, announced the launch of a gold token that can be delivered in physical form, on-demand, at any time from the firm’s partner refineries. Seba believes the token can be leveraged as a compliant stablecoin “backed by responsibly sourced gold.” Swiss Bank Introduces ‘Seba Bank Gold Token’ Backed by […]

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5% Over Spot: Gold-Backed Tokens Tether Gold and Digix Sell for Higher Premiums

DIGIT — Tue, 07 Apr 2020 20:45:14 +0000

Digital asset markets have been gathering some gains during the last few days and tokens like stablecoins have seen massive demand since the start of the market carnage. Alongside stablecoins, gold-backed digital assets like Tether Gold, Pax Gold, and Digix Gold have seen tremendous trade volumes as well. In fact, cryptocurrencies that claim to be […]

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Global Crypto War Is Heating up – Iran Next in Line With Its Own Gold-Backed Coin

DIGIT — Tue, 16 Jul 2019 22:30:31 +0000

Control of the U.S. dollar and the global financial system that depends on it gives the American government an incredibly powerful tool in shaping international affairs. As such, it is not surprising that its geopolitical rivals around the world will try to exploit the invention of cryptocurrency to take the USD down a peg. The […]

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