Tether Gold Introduces New Unit 'Scudo' Reflecting Satoshi Model

Tether, the issuer of the stablecoin USDT, announced on the 6th that it has introduced a new accounting unit 'Scudo' for its gold-backed token, Tether Gold (XAUT). One Scudo is defined as one-thousandth of XAUT, or one-thousandth of a troy ounce of gold. Instead of trading in smaller decimal units, transactions and pricing can now be conducted in whole or fractional Scudo units. This model mirrors the use of Satoshi in Bitcoin (BTC), where Satoshi enables transactions by subdividing one Bitcoin into smaller units. As gold prices rise, Tether aims to increase the usability of gold-backed tokens.