Tether Gold arrives on DeversiFi
Tether Gold arrives on DeversiFi
Stable Coin

Tether Gold arrives on DeversiFi

By Amelia Tomasicchio - 18 Feb 2020

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The stablecoin Tether Gold (XAUT) has been listed on DeversiFi, the decentralized exchange of Bitfinex.

DeversiFi is the former ETHFinex, the Bitfinex platform where it was possible to trade ERC20 tokens and participate in token sales. A while ago the team underwent a rebranding, partly to announce its independence from Bitfinex.

Today, according to what the company said on Twitter, Tether Gold, the new Bitfinex stablecoin pegged to gold, has been listed on DeversiFi, allowing users to keep this coin on a decentralized and therefore obviously non-custodial platform.

Furthermore, it will be possible to trade Tether Gold for Tether Dollar (USDT) on the exchange, the other Bitfinex stablecoin that is pegged 1 to 1 with the US Dollar. 

DeversiFi supports wallets such as MetaMask, Ledger, Portis, Trezor and other keystores, as can be read in the official press release published today.

Moreover, still in the blog post published today, it is said that in March 2020 DeversiFi will be updated so that it will be possible to do on-chain trading through the StarkWare layer 2 solution.

Tether Gold vs Tether dollar

Recently, interviewed by TerraBitcoin Club, Paolo Ardoino, explained how Tether Gold is much more secure and decentralized than USDT.

“I’d be interested to see Tether Gold volumes grow to Tether Dollar levels, since for all the stablecoins pegged to the price of the dollar, transactions pass through one of the seven sisters banks, hence they are more centralized”.

A few days ago Tether also landed on the Algorand blockchain, following the support of Ethereum, EOS, Liquid Network, Omni and TRON.

On that occasion, Ardoino had declared:

“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains. Our latest collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions. Tether and Algorand both share a desire to keep building next-generation financial products and we feel our growing customer base will appreciate and benefit greatly from this collaboration”.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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