Bitso, the leading digital financial services company in  Latin America, announced the listing of Tether Gold (XAU₮), a blockchain-based asset fully  backed by physical gold, allowing users to buy and sell tokenized gold directly within the crypto  ecosystem. 

Each Tether Gold token represents one troy ounce of fine gold, backed by a physical gold bar  that meets LBMA Good Delivery standards and is stored in secure Swiss vaults. Ownership is  tracked digitally on-chain, enabling fractional exposure and 24/7 trading without the costs or  logistics of physical gold storage. 

The listing provides crypto users with a liquid, gold-backed store of value, appealing during  periods of inflation, geopolitical uncertainty, or crypto-market volatility and without existing digital  markets. 

For Bitso, this addition strengthens its portfolio by incorporating tokenized real-world assets,  expanding diversification options for users. XAU₮ operates under an allocated backing model,  with each token linked to specific gold bar serial numbers and supported by periodic attestations  published by Tether. As with any tokenized asset, investors should consider the risks involved  and volatility.  

Tether Gold is available for conversions, which means users can buy or sell XAU₮ on the Bitso  platform. If the users want to transfer funds externally, they must be first converted into a token  available for deposits and withdrawals, such as USDT. Unlike physical gold, which can take  several days to buy or sell through a bank, tokenized gold is available for settlement at any time  the user chooses to liquidate.