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Tether Introduces Alloy: A Synthetic Dollar Backed by Tether Gold

The Big Whale

— 1 min read
  • Tether introduces Alloy, a gold-backed stablecoin pegged to USD on the new Alloy platform.
  • Alloy (aUSDT) is overcollateralized by Tether Gold (XAUt) and is a synthetic dollar.
  • Users can mint aUSDT by depositing XAUT through smart contracts and price oracles.
  • Alloy by Tether offers long-term exposure to gold while providing a dollar-referenced asset.
  • Tether plans to expand Alloy to include other tethered assets and yield-bearing products.
  • Moon Gold and Moon Gold El Salvador handle aUSDT issuance, regulated by El Salvador's CNAD

Summary :


Tether, the leading stablecoin issuer, has introduced a new asset called Alloy (aUSDT), which is backed by Tether Gold (XAUt) and pegged to the U.S. dollar. Alloy is a synthetic dollar that aims to mimic the value and functionality of the U.S. dollar without being directly backed by it. Users can mint aUSDT by depositing Tether's tokenized gold as collateral. Tether plans to expand its services beyond stablecoins and launch a tokenization platform later this year. The company has also invested in bitcoin mining, payment processing, and artificial intelligence.

Sources :

- CoinTelegraph
- Coindesk
- Decrypt
- TheBlock
- Bankless
- Protos

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