Tether has finally unveiled its much-anticipated new project, Alloy by Tether, which is backed by Tether Gold. This initiative aims to redefine stability in the digital economy by combining the reliability of gold with the benefits of a stable economic unit.
Alloy by Tether introduces a new category of digital assets called pegged assets. The first token in this series, aUSD₮, is designed to track the value of one US dollar and is over-collateralized by Tether Gold (XAU₮), allegedly backed by physical gold stored in Switzerland.
Users can create aUSD₮ tokens by using Tether Gold (XAU₮) as collateral through smart contracts on the Ethereum Mainnet. Tether CEO Paolo Ardoino expressed his excitement about the launch, highlighting the innovation and market potential of this new digital asset class.
This groundbreaking technology will be integrated into Tether’s upcoming digital asset tokenization platform, offering investors a unique opportunity in the market. As always, it’s important to note that this is not investment advice.
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