Gold-backed stablecoin Tether Gold (XAU₮) added to Transak's offerings
In a groundbreaking move, Transak, a leading platform in digital finance, has integrated Tether Gold (XAU₮), a gold-backed stablecoin, into its system. This integration marks a significant leap forward in **financial inclusion**, particularly benefiting economically unstable regions.
Key benefits of the XAU₮ integration include:
1. **Easy Access to Gold-Backed Assets**: Users can now purchase Tether Gold tokens using standard payment methods on Transak, bypassing the need for physical gold ownership and the management of vault storage. This removes traditional barriers associated with gold investment, such as custody risks and high costs, making gold exposure more accessible for individuals in volatile economies.
2. **24/7 Liquidity and Instant Conversion**: Transak's integration enables instant on/off ramps for gold-backed cryptocurrencies, allowing users to trade XAU₮ anytime without relying on conventional bullion dealers or incurring storage fees. This liquidity is crucial in unstable regions where access to reliable financial services is limited, and fast asset conversion can protect wealth from currency devaluation.
3. **Stable Store of Value**: Economically unstable regions often grapple with currency inflation and limited access to stable assets. Since Tether Gold is pegged to the value of physical gold, it offers a more stable alternative to local fiat currencies, helping users preserve purchasing power and hedge against inflation risk.
4. **Lowering Entry Barriers and Enhancing Inclusion**: By leveraging crypto infrastructure and fiat payment methods through Transak, users without traditional banking access can still invest in gold digitally. This expands financial inclusion by bridging traditional assets with decentralized finance technologies.
The launch of Tether Gold on Transak signifies a step towards decentralized asset adoption in a world facing inflation, currency devolution, and increasing interest in decentralized assets. The co-founder and CEO at Transak, Sami Start, emphasised the significance of the XAU₮ launch, stating that it offers a path for preserving value in a time-tested, tangible, and globally trusted asset.
XAU₮ turns gold into a 21st-century asset by simplifying purchases, removing physical custody needs, and providing liquidity. The platform allows anyone with a phone, a bank account, and an internet connection to buy, hold, and send gold instantly anywhere in the world. This democratisation of a traditionally elite asset class is particularly empowering for populations in economically unstable regions who seek a reliable, stable store of value and improved financial agency through digital means.
Transak is proud to make XAU₮ accessible to the public. Each XAU₮ token represents one troy ounce of physical gold, stored securely in Swiss vaults. The gold-backed stablecoin can be bought and owned through Transak using local payment solutions like PIX, SEPA, and others, expanding the financial horizon by offering a new way to preserve value.
- The integration of Tether Gold (XAU₮), a gold-backed stablecoin, into Transak's system has been a significant move in the finance industry, particularly in enhancing financial inclusion, especially in economically unstable regions.
- One key benefit of this XAU₮ integration is the easy access to gold-backed assets, enabling users to purchase tokens using standard payment methods, bypassing traditional barriers like custody risks and high costs, making gold exposure more accessible for individuals in volatile economies.
- Another benefit is the 24/7 liquidity and instant conversion that Transak's integration provides, which is crucial in unstable regions with limited access to reliable financial services, as it allows users to trade XAU₮ anytime without relying on conventional bullion dealers or incurring storage fees.
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