New stables for Tether
The broadcaster of USDT, Tetherannounced in the last few hours the launch of “Alloy by Tether”, a new project for the development of new collateralized assets, and inaugurated by aUSDTan asset pegged to the dollar and over-collateralized by Tether Gold (XAUT), itself an asset supported by gold.
In collaboration with Moon Gold NA and Moon Gold El Salvador, of the Tether group, the broadcaster therefore expands its offer once againthis time offering an entire new asset class with all the benefits of stablecoins.
aUSDT can be minted on Ethereum by users using Tether Gold as collateral, via a platform that however promises creation also other assets.
“We are thrilled to announce the launch of ‘Alloy by Tether,’ introducing a class of digital assets backed by gold and tied to a fiat reference currency,” he said Paolo Ardoino, CEO of Tether, in an official note. “While the ‘stabilization’ mechanism is different than traditional options, this solution marks an exciting milestone, and we can’t wait to see how it interacts with the rest of the market.”
Furthermore, according to Ardoino, this new solution will also be integrated into a future one platform for tokenization of digital assets.
Tether’s expansion
Alloy would aim to simplify gold transactions by institutionsbut also to improve integration of the asset in the portfolios of various clients. Which is what XAUT is already doing, but in a less flexible way.
Finally, the operation is integrated into a broader expansion strategy of Tether, which for example has also declared its intention to invest over a billion dollars in startups by 2025 and has already engaged in Bitcoin mining.
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