Popular crypto exchange XT.com is set to add two Tether-developed stablecoins — XAUT and EURT — to its trading platform.
To give its six million+ registered users more trading pair options, the world’s first social-infused digital assets exchange, XT.com, has opted to support more stablecoins on its platform.
The popular crypto exchange, which offers a seamless and cost-friendly platform for users to trade Bitcoin (BTC), Ethereum (ETH), and over 800 altcoins, revealed its plans to list Euro Tether (EUR₮) and Tether Gold (XAU₮) this week.
#XTexchange will list EURT & XAUT in the Main Zone (DeFi) under the USDT trading pair.
✅ Deposit: 10:00 on July 05 (UTC)
✅ Trading: 10:00 on July 06 (UTC)
✅ Withdrawal: 10:00 on July 07 (UTC)Details ⤵️
EURT – https://t.co/LdP8hkGLrH
XAUT – https://t.co/hRl8lGxQxa#Crypto pic.twitter.com/gwnpwFtvhl— XT.com Exchange (@XTexchange) July 5, 2023
In particular, EURT and XAUT will be listed under the USDT trading pair in the Main Zone (or DeFi category), the team stated in its Wednesday announcement.
While users can deposit XAU₮ and EUR₮ tokens into their XT.com accounts beginning today, the update disclosed that trading with these stablecoins would be enabled on July 6 at 10:00 (UTC). Meanwhile, withdrawals would be unlocked at 10:00 (UTC) on July 7.
It bears noting that XAU₮ is a digital asset representing ownership of physical gold. In particular, each XAU₮ token represents ownership of 1 troy fine ounce of gold on a London Good Delivery gold bar, according to the stablecoin developer Tether.
On the other hand, EUR₮ is a stablecoin pegged 1-to-1 to the Euro, serving as a digital representation of the fiat currency.
Tether Excited About the Development
Tether, the company behind the development of EUR₮ and XAU₮, has expressed excitement about XT.com’s move to support both stablecoins. It is worth mentioning that the exchange — established in 2018 — already supports USDT, the leading stablecoin by market capitalization, liquidity, and adoption.
Reacting to the upcoming listing, Tether’s Chief Technology Officer Paolo Ardoino said: “We are thrilled the pioneer in social infused exchanges, XT.COM, has decided to facilitate users across the world to access and own digital assets backed by the Euro and physical gold.”
Ardoino took the opportunity to emphasize Tether’s commitment to enhancing financial inclusion. However, the company’s integrity has been questioned occasionally due to issues relating to its reserves. This led to veteran trader Peter Brandt noting that he can’t hold money in Tether assets, including USDT.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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