What digital currency is supported by gold?

3 answers

• Dec 18, 2021 · 3 years ago
  Sure! There are a few digital currencies that are backed by gold. One popular example is Tether Gold (XAUT), which is a stablecoin issued by Tether. Each XAUT token represents ownership of one troy ounce of physical gold stored in a vault. This means that for every XAUT token in circulation, there is an equivalent amount of physical gold backing it. It provides a way for investors to hold and trade gold in a digital form, offering the benefits of both gold and cryptocurrency.
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• Dec 18, 2021 · 3 years ago
  Absolutely! Another digital currency supported by gold is DigixDAO (DGD). DigixDAO is an Ethereum-based platform that allows users to buy and sell tokens representing physical gold. Each token, known as DGX, represents one gram of gold. The gold is stored in vaults and audited by a third-party to ensure transparency and trust. This allows investors to have fractional ownership of physical gold and trade it on the blockchain.
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• Dec 18, 2021 · 3 years ago
  Yes, there is a digital currency supported by gold called PAX Gold (PAXG). PAXG is an ERC-20 token built on the Ethereum blockchain. Each PAXG token represents one fine troy ounce of London Good Delivery gold stored in professional vault facilities. PAXG allows investors to own and trade gold in a digital form, providing the convenience and security of blockchain technology. It's a great option for those who want exposure to gold without the hassle of physical storage.
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