Tether launches a new accounting unit "Scudo" for Tether Gold (XAU₮)

According to the official blog, stablecoin issuer Tether has announced the launch of Scudo, a new accounting unit for the tokenized gold product Tether Gold (XAU₮), aimed at making gold a universally accessible means of payment.

Tether defines one Scudo as one thousandth of a troy ounce of gold (or one thousandth of XAU₮), allowing Tether Gold to achieve clearer price labeling, more convenient transfers, and a more intuitive use of gold value. Users no longer need to send or price assets in the complex decimal fractions of XAU₮, but can trade in whole Scudo or fractional Scudo units, which not only makes gold a more practical means of storing value but also facilitates its use as a medium of exchange.

Tether Gold is still fully backed by physical gold stored in secure vaults, and ownership can be verified on-chain through Tether's asset tracking tools. Scudo does not change the structure or underlying support of XAU₮, but rather provides a simpler way to measure and trade gold value, especially in the context of rising prices.