Tether Gold and Paxos Gold are primarily on Ethereum and I would trust Paxos Gold more than Tether. You have multiple counter party risks with these tokenized pegged assets because you have to trust that they actually have the Gold in their reserves. I feel like these offerings could be expanded and allow for more DeFi activity if they were tokenized across the other EVM chains and have Solana access. We don't really have Silver, Platinum, and Platium tokenized for the most part. Seems like a super big gap in the market to not have some of that stuff tokenized.
Uphold has the ability to buy Gold, Silver, and Platinum but from my understanding you don't have a tokenized version that you can withdraw from that platform.
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I have never seen they have let as see some gold , i just read all time words they do this and that ... but thats all .
https://www.coingecko.com/en/coins/pax-gold
I'm surprised more hasn't been tokenized but typically crypto is moving way more than Gold and Silver but lately they have been going crazy.
I haven't been much of a Tether fan from the beginning. I even try to avoid USDT opting instead for USDC when it comes to stable coins.
I never really trusted it and for along time there was the narrative that Tether would take the whole market down when it was exposed and for some reason it never really happened and other stuff collapsed.
I always go with USDC as well but there have been some weird capitulation events where it got depeged for several hours which is always weird to me. It would never make sense that it wouldn't just always be $1.
Yeah, stuff like that is always a bit concerning.