Gold-Backed Stablecoins Race to Keep Up With Crisis-Driven Demand
Gold-backed crypto tokens continue to rise in price as sourcing gold itself during the coronavirus-induced downturn is reportedly getting more difficult.
Demand for Paxos Gold (PAXG) and Tether Gold (XAUT),
has surged this week.
Gold-backed crypto tokens currently hold a premium for traditional trading of both spot and futures gold markets on exchanges. It is a commodity as the stimulus package comes in and might devalue the future of the fiat currencies.