XT.com, the world’s first socially infused trading platform, has added OZFT, a gold-pegged stablecoin, to its trading platform. OZFT, which represents one gram of gold, is designed to offer the same asset and investment characteristics as physical gold, but with a small payment function. It is being listed in the Main Zone and trading against USDT began on 16 May. The token can be bought and sold through a variety of channels, starting with XT.com. In phase two, the company plans to grow the number of cryptocurrency exchanges that handle the token, thereby boosting its liquidity.
Founder Ougon Zakura FT (OZFT), a financial services firm from Japan, has issued and sold the tokens via XT.com, which has acted as a seller for the cryptocurrency. It aims to push for the use of OZFT as a form of payment, and expand the product range available for exchange beyond physical gold. The maximum number of issued tokens could be raised in the future to a level that does not harm the interests of users and system stability. The trading price of the token will be calculated based on the negotiated trading market for delivery in London.
XT.com, which launched in 2018, has more than 6 million registered users, over 500,000 monthly active users, 40 million users in the ecosystem, and over 1,000 trading pairs. Its crypto futures trading options include USDT-M Futures and coin-M futures perpetual contracts, paired with prediction markets that incentivise users’ ability to predict the results of future events.