Tether Launches New Gold-Backed Digital Asset aUSDt

Jun 17, 2024, 12:08 PM

Tether has announced the launch of its new digital asset product, Alloy by Tether, on 17th June. This new product includes a dollar-pegged stablecoin, aUSDt, which is over-collateralized by Tether Gold (XAUt). The initiative is part of Tether's $1 billion investment strategy aimed at enhancing value consistency and stability. The aUSDt stablecoin merges the utility of the dollar with the value of gold, and it will be listed first on Bitfinex. The new product line signifies a significant move for Tether, which is known for its existing digital assets. The new digital asset is supported by physical gold stored in Switzerland.