- Upbit launches XAUT trading against KRW, BTC, USDT.
- XAUT backed by 1 troy ounce gold bars.
- Launch expected to increase cross-pair liquidity and demand.
South Korea's largest cryptocurrency exchange, Upbit, is set to list XAUT trading pairs against KRW, BTC, and USDT starting January 1, 2026, on the Ethereum network.
The listing highlights the growing demand for gold-backed digital assets, potentially impacting liquidity dynamics of linked currencies and strengthening asset-backed token adoption amid regulatory developments.
South Korea’s largest crypto exchange, Upbit, announced the listing of XAUT (Tether Gold) trading pairs. The launch is scheduled for January 1, 2026, enhancing crypto market offerings by including assets backed 1:1 by gold bars.
Upbit and Tether are key players in this initiative, aiming to provide diverse trading options. XAUT will be available against KRW, BTC, and USDT, with deposits and withdrawals open following the official announcement.
Retail and institutional traders anticipate new liquidity avenues and portfolio diversification. The launch may affect trading habits as XAUT is priced in KRW, BTC, and USDT, catering to varied investor preferences.
The inclusion of gold-backed cryptocurrency signals a shift towards asset-backed tokens, aligning with regulatory trends under the OECD Crypto-Asset Reporting Framework. Tightening AML rules add context to this move's timing.
The precedent of Upbit's ZKP listing suggests potential price movement for XAUT. The fiat and crypto market impacts from enhanced liquidity and diverse offerings reflect Upbit's strategy to attract hybrid retail and institutional traders.
Financially, the listing strengthens Upbit's position as a leading platform for asset-backed tokens. It might incentivize similar exchanges to explore compliance with evolving global regulations while boosting joint endeavors with issuers like Tether. As put by Upbit Leadership:
Upbit is aligning with MiCA and other regulatory frameworks to enhance cross-border transparency, which favors the introduction of asset-backed tokens like XAUT.[source: AInvest - Strategic Case for XAUT]