25 February, 2024

Crypto Exchange Bitget Unveils Tether Gold (XAUT) and Tether Euro (EURT)

1 year ago

06 Dec, 2023

Tether has made an announcement stating that its two tokens, Tether Gold (XAUT) and Euro Tether (EURT), have been listed on the cryptocurrency derivative market known as Bitget. Users of the Bitget exchange will now have access to the stablecoin known as XAUT, which reflects ownership of actual gold.

Customers of Bitget now have access to the Euro-pegged stablecoin that is powered by the firm that was the first and is now the most extensively used stablecoin in the ecosystem. This access was made possible by the introduction of EURT on the cryptocurrency derivative exchange.

Bitget is a cryptocurrency derivative exchange that makes it possible for customers of varying levels of competence to trade futures and options on the blockchain. 

CoinGecko has placed Bitget in the top five of its worldwide rankings for derivatives trading by volume. Bitget’s daily training volume averages ten billion dollars, and the platform produced more than one hundred billion dollars in trading volume in 2021 alone.

In the words of Tether’s Chief Technology Officer, Paolo Ardoino, the Bitget Community is well positioned for continued growth and success thanks to the availability of both the gold-backed stablecoin and the Euro-pegged stablecoin backed by the same company that created the first, most stable and trusted stablecoin.

In related developments, Tether (USDT), the world’s biggest centralized stablecoin, now has a market value of $68.47 billion. It seems that investors are shifting away from BUSD and its peers, USDC and DAI, and putting their money into tether (USDT). This comes at a time when Paxos/BUSD and USDC are under scrutiny from regulatory authorities.