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RE: Tether launches a gold-based coin: XAU
Two limitations to the Tether Gold Token:
Multiple Redemption Options
Holders of XAUt can make a redemption request in the form of physical gold so long as holders have completed TG Commodities Limited’s verification process and hold the required minimum number of XAUt. The holder’s physical gold can be delivered to a location of their choice in Switzerland or the holder can request that TG Commodities Limited attempt to sell the gold and receive the cash proceeds from that sale (less TG Commodities Limited’s fees).
To receive gold, you must submit a minimum 430 token to receive a full LMBA Gold bar, Our bars of gold (like all LBMA bars of gold) vary in size and can be as big as 430 troy fine ounces.
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