Delta Exchange Launches Tether Gold Perpetual Contracts

The platform will provide a maximum leverage of 20x.

Delta Exchange, a crypto derivatives platform, announced on Monday the listing of Tether Gold (XAUT) perpetual contracts.

Per the press release shared with Finance Magnates, the exchange will offer a maximum leverage of 20x to traders for the newly listed contract. The trading with the new perpetual has started at 9 am (EST).

Tether, along with TG Commodities, launched the physical gold-backed digital currency in January following “growing demand for a digital asset that provides exposure to the world’s most enduring asset and a geopolitical need for an alternative financial system.”

Commenting on the new listing, Pankaj Balani, CEO of Delta Exchange, said: “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. These futures contracts will provide a means of hedging to aid in the offsetting of risk.”

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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.

Available as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain, each token represents ownership of one fine troy ounce of gold. These units can be transferred to any on-chain addresses.

The perpetual contract came when bullion prices are soaring globally, while stocks and digital currencies are seeing consistent down trends due to the COVID-19 outbreak.

“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,” Balani added.

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