Supported by Tether Gold (XAU₮), well-known stablecoin issuer USDT has unveiled a new asset class known as “Alloy.” Combining the security of a stable unit of account with the dependability of gold will help this class promote stability in the digital economy. Made in a blog post today, the statement marks Tether’s most recent move to expand the stablecoin range it provides.
Designed in concert with Tether’s associates Moon Gold NA, S.A. de C.V., and Moon Gold El Salvador, S.A. de C.V., the recently launched “tethered asset,” developed to track the value of reference assets using stabilization strategies including over-collateralization with liquid assets and secondary market liquidity pools,
Leading the Alloy lineup is aUSD₮, the initial token supposed to represent one U.S. dollar’s value. Over-collateralizes actual physical gold housed in Switzerland, owned by USDT Gold. USDT says USD₮ coins are already present in five addresses.
Tether Expands Tokenized Asset Collection with USD₮
By using USDT Gold as collateral, users can generate USD₮ tokens, facilitating digital transactions, payments, and transfers with a currency that mirrors the stability of the U.S. dollar. Ethereum-compatible smart contracts provide openness and transaction efficiency, therefore helping to regulate this process.
The latest addition to their tokenized asset collection for Tether is USD₮. The experience began in early 2020 with the creation of XAU₮, a stablecoin backed by real gold that allows users to keep gold virtually online. Every XAU₮ token is one troy ounce of well-maintained gold from a Swiss vault.
The release of Alloy emphasizes Tether’s commitment to providing innovative financial solutions in the digital economy and increasing stability. It makes USDT a main actor in creating stablecoins supported by actual assets such as gold.
