Tether CEO Announces Gold Move: ‘Alloy by Tether’

Tether has launched a token ‘backed’ by gold stored in Switzerland as a module 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 works coming from this new branch.

aUSDT breakthrough 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 series of digital assets by introducing a new token “backed by real physical gold stored in Switzerland.” In the statement, it was stated that the first token launched by Tether and named “Alloy by Tether” was named 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, which will launch later this year.

Tether described aUSDT as a cryptocurrency “designed to track the value of one US dollar” but “highly collateralized by Tether Gold (XAUT).” He also emphasized again 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 well-known as the company’s dollar-pegged stablecoin USDT, which has 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, which are 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 processes, these users do not need to sell their XAUt. This new development underlines Tether’s commitment to offering innovative products to its users.

cryptokoin.com As you follow from , the company is currently seeking a $1 billion investment to facilitate its entry into Artificial Intelligence (AI) and Biotechnology in the near future. This follows its recent $200 million investment in Blackrock Neurotech, a neural implant company that rivals Elon Musk’s Neuralink. Ultimately, the different additions reflect the firm’s diversification beyond stablecoins.