CoinDCX Lists Tether Gold, Brings Tokenized Gold Trading to Indian Users
CoinDCX, a leading Indian cryptocurrency exchange, has expanded its offerings by listing Tether Gold (XAUT) on its platform. This move allows users to purchase fractional exposure to gold held in Swiss vaults through spot trades or recurring purchases that mirror the mechanics of mutual fund SIPs.
The Systematic Investment Plan (SIP) feature starts at ₹100, making it more accessible for Indian investors to participate in tokenized gold trading. Mridul Gupta, Founding Partner at CoinDCX, stated that the SIP lowers entry barriers for blockchain-based real-world asset products.
Each XAUT token corresponds to one fine troy ounce of gold, currently priced above ₹5.2 lakh on international spot rates. This means a ₹100 SIP effectively purchases a fraction of a fraction of an ounce per installment.