Tether has proposed the term "Scudo," representing 1/1000 of a troy ounce of gold. This will become the new unit of account for the XAUT stablecoin.
The company aims to restore the payment function of the precious metal. The introduction of the "Scudo" will simplify the pricing of goods in gold equivalent, eliminating the need to calculate inconvenient decimal numbers. The same reasoning led to the creation of "sats" for Bitcoin.
Historical note: The scudo was a monetary unit of several Italian states and commonwealths in the Middle Ages and modern times, including the Order of Malta and the Duchy of Milan.
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Tether has proposed the term "Scudo," representing 1/1000 of a troy ounce of gold. This will become the new unit of account for the XAUT stablecoin.
The company aims to restore the payment function of the precious metal. The introduction of the "Scudo" will simplify the pricing of goods in gold equivalent, eliminating the need to calculate inconvenient decimal numbers. The same reasoning led to the creation of "sats" for Bitcoin.
Historical note: The scudo was a monetary unit of several Italian states and commonwealths in the Middle Ages and modern times, including the Order of Malta and the Duchy of Milan.