Perpetual futures on Tether Gold have been launched today on Bitfinex.
Trading began at 8:30 AM UTC with the perpetual swap pair Tether Gold/Tether (XAUTF0/USTF0), which offers a leverage of up to 100x. The launch of XAU₮ futures offers another way to gain exposure to the world’s leading safe-haven asset.
However, trading of this pair is only available in certain jurisdictions, and only for verified users.
Futures contracts allow traders to buy or sell assets at a specific price and date in the future, thus providing a means of hedging and offsetting risk.
In addition, thanks to leverage, they can maximize profits.
XAU₮ is a digital asset collateralized by physical gold and offered by TG Commodities Limited.
Each XAU₮ token represents an ounce of gold troy on a London Good Delivery gold bar stored in a special vault.
Futures contracts, like other derivatives offered on the exchange, are provided by iFinex Financial Technologies Limited, a subsidiary of Bitfinex and Tether.