#稳定币发展 Tether Gold's expansion on Korean exchanges is worth paying attention to. Upbit and Bithumb simultaneously launched XAUT spot trading, reflecting a new direction in the stablecoin ecosystem — extending from a simple trading medium to asset tokenization.

From an on-chain perspective, there are two key signals: first, the opening of KRW trading pairs indicates that Asian funds are increasingly accepting physical assets on the chain, which is a sign of increased capital inflow; second, the simultaneous launch across multiple exchanges reduces user conversion costs, helping to improve trading depth and liquidity.

However, it should be noted that trading volume of gold tokens is often limited by risk appetite and genuine demand. It is recommended to follow up on the inflow of funds into XAUT on Upbit and Bithumb, the movements of whale addresses, and the fund flow relationships with other stablecoins. These data can more accurately determine whether this expansion constitutes genuine incremental demand or is simply a reallocation of existing funds.