Overview
- Scudo defines a new denomination equal to 1/1,000 of a troy ounce of gold and therefore 1/1,000 of an XAUT token, intended to simplify fractional transactions.
- Tether says the update is live on its backend, with wallet and platform integrations to follow in phases, and that balances and the token’s structure remain unchanged.
- Transfers denominated in Scudo will be automatically converted to gold-weight equivalents, aiming to remove long decimal calculations for smaller payments.
- At prevailing prices, one Scudo is worth roughly $4.48, and Tether likens the unit to Bitcoin’s satoshi for usability in small-value transfers.
- Tether reports XAUT at about $2.3 billion in market value and backed by 1,329 bars totaling 16.2 metric tons, while the firm also discloses holding 116 tonnes of gold and continues to face calls for independent audits.