Tether, one of the world’s leading stablecoin issuers, is launching two new stablecoin products on SimpleSwap - Euro Tether (EURT) and Tether Gold (XAUT). These new coins are backed by both Euro and gold reserves respectively and are a product of the partnership between Tether and SimpleSwap - a Marshall Islands-based quick crypto platform. Developed in April 2018, SimpleSwap is aiming to make exchange processes simple and hassle-free, without the need for user registration. The platform currently supports more than 600 different cryptocurrencies and 15+ trading platforms and exchange partners, including OKX, Bittrex and Binance.

SimpleSwap also offers access to a lightweight crypto wallet that can be accessed through a browser plug-in as well as a mobile app, which is available in 10 languages on both iOS and Android devices. Paolo Ardoino, Chief Technology Officer at Tether, expressed his delight with the partnership, stating that customers trading on SimpleSwap “will be thrilled to have access to products that are backed by the company behind the first, largest, most liquid, and most widely used stablecoin in the world.”

Recent reports indicating that Tether has no direct access to the U.S financial system have been circulating. However, new evidence suggests that the company has been utilizing Signature Bank to circumvent the regulations. This news of the introduction of new stablecoins backed by Euro and gold reserves on SimpleSwap comes as a very welcome development for investors and holders of these coins. Apart from the assurance that these coins are backed by real-world assets, investors and holders of the coins also enjoy peace of mind and privacy as SimpleSwap ensures that no personal information is stored on its platform. With such a reliable and productive partnership between Tether and SimpleSwap, the horizon of cryptocurrency trading is indeed becoming very exciting.



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