Tether Introduces New Digital Asset — Alloy

17.06.2024

Tether has launched a new digital asset called Alloy, which is collateralized by Tether Gold (XAUT). The product combines the stability of gold with the benefits of digital currency. The first token on the platform is aUSDT, backed by Tether Gold but pegged to the U.S. dollar, ensuring price stability. Users can mint aUSDT on the Ethereum network using XAUT as collateral. The Alloy platform enables the creation of various pegged digital assets, offering more flexibility in asset management. Tether’s CEO emphasized that Alloy’s stabilization mechanism is different from traditional models like USDT, calling it an innovative approach. The company plans to leverage this technology in its upcoming digital asset tokenization platform. The announcement also notes that Alloy aims to simplify gold transactions for institutions and integrate gold-backed assets into investor portfolios.