Tether Gold

Gold

<a href="https://coingape.com/price/tether/" rel="noopener noreferrer nofollow">USDT</a> stablecoin issuer Tether has announced the official launch of Alloy by Tether with aUSDT as the first token on its lineup.
<h2 id="strong-tether-brings-real-world-assets-to-users-strong">Tether Brings Real World Assets to Users&nbsp;</h2>
In his X post, Tether CEO <a href="https://coingape.com/tether-completes-500m-btc-mining-investment-ahead-halving-paolo-ardoino/" target="_blank" rel="noopener noreferrer nofollow">Paolo Ardoino</a> described aUSDT as a synthetic dollar over-collaterized by <a href="https://coingape.com/tether-gold-xau%e2%82%ae-brings-digital-exposure-to-worlds-most-enduring-asset/" target="_blank" rel="noopener noreferrer nofollow">Tether Gold</a> (XAUt).
Alloy by Tether is a new token minting platform built on the Ethereum (ETH) network. Per its design, it allows users to create tokens collateralized by the firm’s tokenized gold. The plan is to integrate Alloy into Tether’s digital assets tokenization platform which will go live later this year.
<blockquote class="twitter-tweet">
 aUSDT, the first Tethered asset, just launched! aUSDT is a synthetic dollar over-collateralised by XAUt (Tether Gold).
 Alloy by Tether is an open platform that allows to create collateralised synthetic digital assets and will soon be part of the new <a rel="noopener noreferrer nofollow" href="https://twitter.com/Tether_to?ref_src=twsrc%5Etfw">@Tether_to</a> digital assets… <a rel="noopener noreferrer nofollow" href="https://t.co/J8JyWt9duh">https://t.co/J8JyWt9duh</a>
 — Paolo Ardoino <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f916.png" alt="🤖" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f350.png" alt="🍐" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@paoloardoino) <a rel="noopener noreferrer nofollow" href="https://twitter.com/paoloardoino/status/1802693087644320087?ref_src=twsrc%5Etfw">June 17, 2024</a>
</blockquote>
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Two members of the Tether Group; Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V., developed the Tether gold-backed ground-breaking tethered asset.
This new development is aimed at redefining stability in the digital economy. It would achieve this by combining the strengths of a stable unit of account with the security and reliability of gold. Alloy by Tether introduces a whole new kind of cryptocurrencies known as Tethered assets. They are particularly designed to track the price of reference assets through various stabilization strategies.
One of such strategies is over-collateralization with liquid assets and secondary market liquidity pools. This is a welcomed innovative approach that provides consistent value and stability between the reference asset and its tethered counterpart.
For instance, aUSDT is over-collateralized by Tether Gold but designed to track the value of one US dollar. Its uniqueness lies in the fact that it is backed by physical gold that is stored in&nbsp; Switzerland. The aUSD₮ smart contract offers transparency to users by keeping track of all collateral and minted tokens. This is done using Price Oracles to constantly evaluate the Mint to Value (MTV) ratio.
<h2 id="strong-tether-considers-users-in-its-expansion-plan-strong">Tether Considers Users in its Expansion Plan&nbsp;</h2>
Tether highlighted that this is useful and innovative for users who want to perform digital transactions, payments, and remittances but prefers the feel of a currency that they are comfortable around. To complete such transactions, these users do not need to sell their XAUt. The new development underscores Tether’s commitment to offering innovative products to its users.
The firm is currently seeking a $1 billion investment to facilitate its venture into <a href="https://coingape.com/tether-eyes-over-1-bln-investment-in-ai-biotech-report/" target="_blank" rel="noopener noreferrer nofollow">Artificial Intelligence (AI) and Biotechology</a> sectors in the near future. This follows its recent investment of $200 million in <a href="https://coingape.com/tether-eyes-over-1-bln-investment-in-ai-biotech-report/" target="_blank" rel="noopener noreferrer nofollow">Blackrock Neurotech</a>, a neural implant firm that rivals Elon Musk’s Neuralink.
Ultimately, the different additions reflects the firm’s diversification beyond stablecoins.
Read More: <a href="https://coingape.com/breaking-us-supreme-court-to-hear-nvidia-crypto-mining-revenue-case/" target="_blank" rel="noopener noreferrer nofollow">US Supreme Court to Hear Nvidia Crypto Mining Revenue Case</a>
The post <a href="https://coingape.com/tether-launches-first-gold-backed-over-collateralized-asset/" rel="noopener noreferrer nofollow">Tether Launches First Gold-Backed Over Collateralized Asset</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Tether Launches First Gold-Backed Over Collateralized Asset

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