Tether Launches aUSDT Dollar-Pegged Stablecoin Backed by Gold on Bitfinex

Jun 17, 2024, 02:20 PM

Tether, the world's largest stablecoin issuer, has announced the launch of a new dollar-pegged stablecoin called aUSDT. This new digital asset is over-collateralized by Tether Gold (XAUt), combining the stability of the US dollar with the value of gold. The product, named 'Alloy by Tether,' aims to provide a seamless utility and timeless value, merging the dollar's utility with gold's store of value. The aUSDT will be available for trading on Bitfinex and is part of Tether's broader strategy to expand its portfolio of digital assets. The gold backing the aUSDT is physical gold stored in Switzerland.