Tether Launches aUSD₮, a New Digital Asset Backed by Tether Gold (XAU₮)

Tether has launched Alloy by Tether, a new digital asset backed by Tether Gold. Alloy is designed to track the price of reference assets using strategies like over-collateralization and liquidity pools, ensuring consistent value and stability.

Stablecoin issuer Tether has announced the launch of Alloy by Tether, a new digital asset that will be pegged to the price of reference assets and is designed to provide consistent value and stability.

The first asset in the Alloy family will be aUSD₮, which will track the value of one US dollar. However, unlike traditional stablecoins, each aUSD₮ will be over-collateralized by Tether Gold (XAU₮), which represents one fine troy ounce of physical gold on a 1:1 basis.

This means that each aUSD₮ will be backed by real, physical gold that is stored in Switzerland, making it a unique and secure investment option.

Anyone can create aUSD₮ tokens using XAU₮ as collateral through smart contracts on the Ethereum Mainnet. These contracts will track all collateral and minted tokens, using Price Oracles to ensure transparency by continuously evaluating the mint-to-value (MTV) ratio.

Alloy by Tether for Institutions will also allow financial institutions to add tethered assets to their portfolios, providing a modern asset management approach that is suited to the global finance landscape.

Tether has announced that Moon Gold NA, S.A. de C.V., and Moon Gold El Salvador, S.A. de C.V., which are authorized by the CNAD in El Salvador, will handle the issuance and handling of Alloy by Tether for various customer segments and regulatory needs.

Paolo Ardoino, Tether’s CEO, expressed excitement about the launch of Alloy by Tether, which introduces a new class of digital assets that are backed by gold and pegged to a fiat currency reference. He highlighted that Alloy's unique stabilization mechanism differentiates it from traditional options like USDT.

He also shared his anticipation for how Alloy will integrate within the market and announced plans to integrate it into their upcoming digital asset tokenization platform.

In related news, about a month ago, Tether announced a collaboration with Oobit and the TON Foundation to integrate TON with Tether’s stablecoin ecosystem. With over $200 million in USDT now hosted on TON, the alliance aims to broaden cryptocurrency’s role as a payment method.

Tether’s CEO stated that this partnership aims to offer banking services to those without access and make cryptocurrency transactions more seamless and user-friendly.

The Head of Business Development at [TON] Wallet also highlighted that they are moving swiftly toward their goal of making cryptocurrency universally accessible, propelling global adoption forward at an accelerated pace.

News source：https://www.kdj.com/cryptocurrencies-news/articles/tether-launches-ausd-digital-asset-tether-gold-xau.html

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