Tether Operations Limited (Tether), the company behind the blockchain-enabled platform tether.to and the most widely used stablecoin USDT, announced on June 8, 2023, that Tether Gold (XAU) will be accepted as a payment method at Uquid, introducing DeFi and Web3 to the online retail purchase, Uquid is an e-commerce platform with approximately 120 million physical, digital, and NFT goods.
Uquid (founded in 2016) is an online retail ecosystem that combines traditional e-commerce with the metaverse. It is intended to give clients simple and safe ways to purchase things using crypto or fiat money. Customers may now simply and securely purchase items from Uquid using Bitcoin, Tether (USDT), or Tether Gold (AUXT), as well as various other types of cryptocurrencies, in addition to XAU.
Customers can shop for real-world stuff such as apparel, shoes, technological gadgets, computers, household goods, sporting goods, and more at Uquid’s online store. or from Uquid’s digital offerings, which include mobile top-ups, streaming and gaming subscriptions, gaming cards, NFTs, etc.
Customers of Uquid are able to pay for online purchases with a digital asset called XAUT that simulates the possession of actual gold. One XAUT token is equal to one troy fine ounce of gold on a London Good Delivery gold bar and was developed by the same people that created USD, the first, most reliable, and most trusted stablecoin in the world.
The advantages, ease, and security that come with utilizing cryptocurrencies to conduct both physical and digital transactions are becoming more widely known, and more people are realizing that they are not limited to using their nation’s fiat money, according to Paolo Ardoino, CTO of Tether. ‘I am thrilled that customers holding XAUT can now choose to purchase their physical, digital, and NFT needs from Uquid.’
