Tether has launched a token ‘backed’ by gold stored in Switzerland as part of its new synthetic crypto series. In this context, USDT parent company launched the ‘Alloy by Tether’ platform. He designed this platform to join the real-world asset tokenization game. aUSDT was the first of the products from this new branch.
aUSDT move from Tether!
Tether, the world’s largest stablecoin issuer, announced that it has opened a new crypto category. Accordingly, the company is kicking off the launch of its line of digital assets by introducing a new token that is “backed by real physical gold stored in Switzerland.” In the statement, it was stated that the first token launched by Tether and called “Alloy by Tether” was called aUSDT. Paolo Ardoino, CEO of the company, made the following statement regarding the development:
Alloy by Tether is an open platform that allows users to create collateralized synthetic digital assets. It will also soon be part of the new Tether digital asset tokenization platform that will launch later this year.
Tether described aUSDT as a cryptocurrency “designed to track the value of one US dollar” but “overcollateralized by Tether Gold (XAUT).” He also emphasized that the token is “backed” by real gold. “Users can create aUSDT tokens using XAUT as collateral,” the company said. XAUT, with a market value of $573 million, is not as popular as USDT, the company’s dollar-pegged stablecoin with a market value of over $100 billion. The company also said that the new aUSDT token was developed with the help of Moon Gold NA, SA de CV and Moon Gold El Salvador, SA de CV, members of the “Tether Group.”
Tether also considers users in its expansion plan!
Tether emphasized that this is useful and innovative for users who want to make digital transactions, payments and remittances, but prefer a currency they are comfortable with. To complete such transactions, these users do not need to sell their XAUt. This new development underlines Tether’s commitment to offering innovative products to its users.
cryptokoin.comAs you follow from , the company is currently seeking a $1 billion investment to facilitate its entry into the Artificial Intelligence (AI) and Biotechnology sectors in the near future. This follows its recent $200 million investment in Blackrock Neurotech, a neural implant firm that rivals Elon Musk’s Neuralink. Ultimately, the different additions reflect the firm’s diversification beyond stablecoins.
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