Tether Gold (XAUT) is a unique combination of crypto and physical gold, where 1 XAUT = 1 Troy Ounce (31.1 grams) of gold.
This gold-backed token represents gold kept in secure vaults, so there is no worry about storing gold, no locker expenses and no fear of theft.
Like Gold ETFs, its value replicates the price of physical gold, but being on the blockchain, it can be traded 24×7 from crypto wallet.
In India, it comes under VDA, on which 30% flat tax + TDS will be levied. Tether has 80 tons of gold and $300M invested.
