TechFlow news, June 3 — According to CoinDesk, Tether announced a collaboration with TON Foundation to launch XAUt0, a cross-chain gold-backed stablecoin built on LayerZero's Omnichain Fungible Token (OFT) standard. XAUt0 is based on Tether’s existing gold-backed stablecoin XAUt, each token of which is backed by one troy ounce of physical gold stored in Swiss vaults. XAUt0 can freely move across multiple blockchains without relying on intermediary chains or asset wrapping, technically similar to the previously launched cross-chain dollar-pegged stablecoin USDT0.
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