Crypto – Tether Launches Alloy: A Gold-Backed Stablecoin!

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Tether, the company behind the largest stablecoin by market capitalization, has announced the launch of a new digital asset backed by real gold. This development marks a significant milestone for Tether, which is expanding its offerings beyond the mere issuance of USDT, the dominant stablecoin in the crypto market.

Tether launches Alloy, the new stablecoin backed by gold!

The new product, named “Alloy by Tether”, is a crypto platform enabling the creation of synthetic digital assets collateralized. Alloy (aUSDT) is a stablecoin backed by gold. It is designed to mimic the value and functionality of the US dollar without being directly supported by it. According to Tether, Alloy will be over-collateralized by Tether Gold (XAUt), a token representing ownership of physical gold, while being pegged to the US dollar.

The Alloy by Tether platform was designed to join the game of tokenizing real-world assets. aUSDT was the first product of this new branch. Crypto users can mint aUSDT by depositing XAUt via a smart contract and price oracles. This allows them to transact with aUSDT while retaining their Tether assets backed by gold.

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Another innovation in the crypto universe

This initiative follows Tether’s record profit of $4.5 billion in the first quarter of 2024! And this, mainly thanks to Bitcoin and gold. The introduction of aUSDT offers both stability and flexibility for digital asset holders. Tether indicated that other related assets, including yield-generating products, could also be developed on the Alloy crypto platform.

In summary, Tether introduces a major innovation in the crypto space with Alloy by Tether. By combining the stability of gold with the advantages of a digital currency, Tether is paving the way for a new era of digital finance! Where the security of traditional assets meets the flexibility and accessibility of blockchain technologies. With Alloy, Tether continues to strengthen its position as a leader in the stablecoin industry and asset tokenization.