Tether unveils Scudo, a 1/1000 troy ounce unit tied to XAUT

On Tuesday, Tether launched Scudo, a unit equal to one‑thousandth of a troy ounce and 1/1,000 of an XAUT token, to enable smaller onchain gold transactions. XAUT is backed by more than 1,300 gold bars and has a market cap of about $2.3 billion, according to Tether. The rollout follows a year in which gold prices rose above $4,550 per troy ounce.