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The issuer of USDT, Tether, has introduced the aUSDT token backed by Tether Gold (XAUT) in the Alloy line of "pegged assets".
According to the press release, aUSDT aims to redefine stability in the digital economy by combining the benefits of a stable unit of account with the security and reliability of gold.
Alloy introduces a new category of "pegged" digital tokens. They are designed to track the price of benchmark assets through stabilization strategies such as excess provision of liquid assets and secondary market liquidity pools.
This approach maintains a constant value and stability of the link between the reference asset and its associated counterpart, the company noted.
aUSDT is designed to track the value of $1. The token is backed by Tether Gold (XAUT) — a real physical metal held in vaults in Switzerland.
Users can issue aUSDT using XAUT as collateral.
"This is a very useful and innovative combination for users who want to participate in digital transactions, payments and money transfers with a currency that feels as familiar as the US dollar, without having to sell their XAUT," the company explained.
Alloy by Tether smart contracts are deployed on the main Ethereum network. They provide transparency by tracking all collateral and issued tokens, using price oracles to continuously evaluate the Mint to Value ratio (MTV).
According to CoinGecko, the capitalization of XAUT is $571.6 million. According to this indicator, the stablecoin is ahead of competitor PAX Gold (PAXG) from Paxos ($428.4 million).
The open Alloy platform allows you to create various linked assets with broader collateral mechanisms, including revenue-generating products.
The technology represents a modern approach to money management. It can attract the interest of institutions by offering a secure digital token backed by gold with the ability to add to portfolios.
Management and issuance are handled by Moon Gold NA and Moon Gold El Salvador, which are part of the Tether Group and authorized by CNAD of El Salvador.
"We plan to use this innovative technology [Alloy] on our new digital asset tokenization platform as well," said Paolo Ardoino, CEO of the company.
Recall that in June, the head of Tether said that the issuer of USDT will allocate over $1 billion for distribution to startups from " hundreds of venture proposals."
Then Ardoino re-announced plans to launch a platform later this year on which companies will be able to issue bonds and shares in the form of digital tokens, and central banks will be able to offer CBDCs.
In April, Tether announced the reorganization of the structure into four divisions in order to enter other areas, in addition to stablecoins.
According to the press release, aUSDT aims to redefine stability in the digital economy by combining the benefits of a stable unit of account with the security and reliability of gold.
Alloy introduces a new category of "pegged" digital tokens. They are designed to track the price of benchmark assets through stabilization strategies such as excess provision of liquid assets and secondary market liquidity pools.
This approach maintains a constant value and stability of the link between the reference asset and its associated counterpart, the company noted.
aUSDT is designed to track the value of $1. The token is backed by Tether Gold (XAUT) — a real physical metal held in vaults in Switzerland.
Users can issue aUSDT using XAUT as collateral.
"This is a very useful and innovative combination for users who want to participate in digital transactions, payments and money transfers with a currency that feels as familiar as the US dollar, without having to sell their XAUT," the company explained.
Alloy by Tether smart contracts are deployed on the main Ethereum network. They provide transparency by tracking all collateral and issued tokens, using price oracles to continuously evaluate the Mint to Value ratio (MTV).
According to CoinGecko, the capitalization of XAUT is $571.6 million. According to this indicator, the stablecoin is ahead of competitor PAX Gold (PAXG) from Paxos ($428.4 million).
The open Alloy platform allows you to create various linked assets with broader collateral mechanisms, including revenue-generating products.
The technology represents a modern approach to money management. It can attract the interest of institutions by offering a secure digital token backed by gold with the ability to add to portfolios.
Management and issuance are handled by Moon Gold NA and Moon Gold El Salvador, which are part of the Tether Group and authorized by CNAD of El Salvador.
"We plan to use this innovative technology [Alloy] on our new digital asset tokenization platform as well," said Paolo Ardoino, CEO of the company.
Recall that in June, the head of Tether said that the issuer of USDT will allocate over $1 billion for distribution to startups from " hundreds of venture proposals."
Then Ardoino re-announced plans to launch a platform later this year on which companies will be able to issue bonds and shares in the form of digital tokens, and central banks will be able to offer CBDCs.
In April, Tether announced the reorganization of the structure into four divisions in order to enter other areas, in addition to stablecoins.
