Leading Web3 E-Commerce Platform to now accept Tether Gold (XAU₮)

Leading Web3 E-Commerce Platform to now accept Tether Gold (XAU₮)
by Tether | Jun 8 2023

8 June, 2023 – Tether Operations Limited (Tether), the company operating the blockchain-enabled platform tether.to that powers the first and most widely used stablecoin, today announced that Tether Gold (XAU₮) will be accepted as a payment method at Uquid, an e-commerce platform with over 120 million physical, digital and NFT products that are bringing decentralized finance (DeFi) and Web3 to online retail shopping.

Uquid, established in 2016, is an online retail ecosystem that merges the metaverse and traditional e-commerce. It is designed to provide customers with convenient and secure methods of buying products using either cryptocurrency or fiat currency. In addition to now accepting XAU₮ as a payment method, customers can conveniently and securely purchase goods from Uquid with Bitcoin or Tether’s U.S. dollar-pegged tokens (USD₮), as well as several other types of cryptocurrencies. 

Uquid’s online store offers customers access to millions of different types of real-world products, including clothing, shoes, electronic devices, computers, home goods, sporting goods, and more. Customers can also take advantage of Uquid’s selection of digital products, having access to NFTs, gaming cards, streaming and gaming subscriptions, mobile top-ups, and more. 

With XAU₮, Uquid customers can now make their online purchases with a digital asset that represents ownership of physical gold. Developed by the creators of USD₮, the world’s first, most stable, and most trusted stablecoin, 1 XAU₮ token represents 1 troy fine ounce of gold on a London Good Delivery gold bar.

“As more people globally learn about the benefits, convenience, and security that come with using cryptocurrency to make both real world and digital transactions, the more they see that they do not have to be confined to the fiat currency of their country,” said Paolo Ardoino, CTO at Tether. “I am very pleased that customers holding XAU₮ can now choose to shop at Uquid for their physical, digital, and NFT needs, and I hope to see more online retailers follow Uquid’s lead.” 

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Important Note:

This press release is not an offer to sell or the solicitation of an offer to buy USD₮ or XAU₮. Tether Limited and Tether International Limited will only sell or redeem USD₮ pursuant to its terms of service available (as of the date of this press release) at tether.to/en/legal. TG Commodities Limited will only sell or redeem XAU₮ pursuant to its gold token terms of sale and service available (as of the date of this press release) at gold.tether.to/legal.

Forward-Looking Statements

Certain statements in this press release may be forward-looking in nature. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated, or implied in the forward-looking statements. None of Tether nor any other person (including Uquid) is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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