Tether Gold is a digital asset that provides ownership of physical gold securely stored in Switzerland, with it being the largest gold-backed stablecoin at a market cap of $84 million.
Celsius Network supports XAU₮, offering the great opportunity to earn interest of up to 3% APY on the world’s oldest store of value ⬇️https://t.co/WzvnzVqK0y
— tethergold (@tethergold) May 4, 2020
“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,” said Paolo Ardoino, CTO at Tether. “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.”
Users will now be able to earn up to three percent APY from Tether Gold holdings in the Celsius Network, demonstrating another benefit that could drive mass adoption of digital assets, especially in light of economic turmoil on a global scale.
The price of Gold has remained relatively stable over the past six weeks despite stock markets suffering a correction with it now trading above $1,700 per ounce, which is a seven-year high.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.