Delta Exchange (https://delta.exchange/), a digital asset derivatives exchange, announced today the launch of XAUT (Tether Gold) Perpetual Contracts. It will allow users to trade XAUT with up to 20x leverage against USDT. Trading of XAUT (Tether Gold) Perpetual Contracts on Delta Exchange begins March 16, 2020, at 9:00 am EST.
“The introduction of Tether Gold (XAUt), the digital token, backed by physical gold onto the Delta Exchange platform is significant in opening a new sector of trading that will allow traders access to physical gold,” said Pankaj Balani, CEO of Delta Exchange. ”These futures contracts will provide a means of hedging to aid in the offsetting of risk.”
XAU₮ is a digital asset offered by TG Commodities Limited that allows holders to obtain the combined benefits of both physical and digital assets. Holders of XAUt are able to exercise ownership of gold while avoiding drawbacks associated with physical gold, such as high storage costs and limited accessibility.
The XAUt token can be transferred to any on-chain address from the purchasers’ Tether wallet after purchase and each specific gold bar(s) will be associated with an on-chain address where the Tether Gold is held. One full XAUt token represents one troy fine ounce of gold on a London Good Delivery bar.
Pankaj Balani, CEO of Delta Exchange went on to say, “We have received good demand for trading Futures on gold backed crypto-assets for some time now and as the Gold prices spike, in the backdrop of Coronavirus scare and global markets sell-off, we expect to see good trading activity in XAUt Futures.”
Weekly, fortnightly, monthly and quarterly expiries for Tether Gold Contracts and will be announced in the coming days on the Delta Exchange Blog at https://www.delta.exchange/blog/.
Risk warning: Trading Futures can be a highly risky endeavor. Although trading can yield significant profits, in the cases of extreme price movement and volatility, Delta Exchange reserves the right to liquidate margin balances.