Crypto NewsNewsTether Made The Big Announcement It Has Been Talking About For Days...

Tether Made The Big Announcement It Has Been Talking About For Days – Here are its New Cryptocurrencies

Tether (USDT) developers introduced their new project, which they have been talking about for days. Here are all the details.

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Tether, one of the largest companies in the cryptocurrency industry, has officially launched Alloy by Tether, a new asset backed by Tether Gold.

According to the official blog post, Alloy by Tether aims to redefine stability in the digital economy by combining the benefits of a stable economic unit with the security and reliability of gold.

Alloy by Tether introduces a new category of digital assets known as pegged assets.

The first token in the Alloy by Tether series will be aUSD₮, a digital currency designed to track the value of one US dollar. The thing about aUSD₮ is that it is over-collateralized by Tether Gold (XAU₮), meaning it is allegedly backed by real physical gold stored in Switzerland, according to the official blog post.

Users will be able to create aUSD₮ tokens using Tether Gold (XAU₮) as collateral.

Currently, Alloy by Tether smart contracts are used on Ethereum Mainnet. Users can mint aUSD₮ by depositing Tether Gold (XAU₮) as collateral through a process managed by Ethereum-compatible smart contracts.

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Tether CEO Paolo Ardoino expressed his excitement about the launch and said:

“We are excited to announce the launch of Alloy by Tether, offering a digital asset class backed by gold and tied to a reference fiat currency. While the stabilization mechanism differs from traditional options such as USD₮, this innovative solution marks an exciting turning point and allows the market to recover.” “Furthermore, we plan to make this innovative technology available in our upcoming digital asset tokenization platform.”

*This is not investment advice.



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