Tether launches cross-chain gold stablecoin XAUt0"on the TON chain
According to online reports, Tether announced that it has partnered with the TON Foundation to launch XAUt0, a cross-chain gold stablecin based on LayerZero's Omnichain Fungible Token (OFT) standard. XAUt0 is based on Tether's gold stablecin XAUt. Each token of the latter is supported by 1 troy ounce of physical gold and stored in a Swiss vault. XAUt0 can flow freely between multiple blockchains without relying on intermediate chains or asset packaging. It is technically similar to the previously launched cross-chain dollar stablecoin USDT0.
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