XAUT and USAT Are Now on Quidax

Nigerian crypto exchange Quidax has added two stablecoins — Tether Gold (XAUT) and USAT — to its platform, allowing users to trade them against the naira (NGN), Ghanaian cedi (GHS), Tether (USDT) and other currencies.

The exchange said both assets are available through its Swap feature as well as on the order book. Announced trading pairs include XAUT/NGN, XAUT/USDT and USAT/USDT.

Tether Gold is a digital token issued by the company behind Tether, with each XAUT representing ownership of physical gold held in a vault. Quidax highlighted the token's real-world backing, its potential as an inflation hedge, and fractional ownership as key selling points.

USAT is described as a stablecoin backed by the US dollar and aligned with the US government's Genius Act on stablecoins. Quidax said the token brings dollar exposure to crypto wallets, suits global settlements, and can act as a liquidity pair for traders moving between currencies.

The exchange also said startups and enterprises can access XAUT and USAT through the Quidax API, enabling clients to offer buy, sell and hold functionality within their own apps. Quidax said the API provides access to deep liquidity and automated settlement.

The listing expands Quidax's stablecoin offering across West African fiat currencies at a time when gold-backed tokens and dollar-pegged digital assets are drawing increased attention from traders and businesses in the region.