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17 June 2024
Tether has launched the first of its “pegged assets” backed by gold

The company Tether, which issues USDT, has introduced the aUSDT token, backed by Tether Gold (XAUT), in a new line of pegged assets called Alloy.

According to the press release, aUSDT aims to rethink stability in the digital economy by combining the benefits of a stable unit of account with the security and reliability of gold.

Alloy represents a new category of “pegged” digital tokens designed to track the prices of benchmark assets using stabilization strategies such as over-collateralization with liquid assets and secondary market liquidity pools.

This approach helps maintain a stable value and a resilient link between the benchmark asset and its pegged counterpart, as noted by the company.

The aUSDT token is designed to track the value of $1 and is backed by Tether Gold (XAUT) — physical metal stored in Switzerland.

Users can issue aUSDT using XAUT as collateral.

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