Tether introduces aUSDT, its new overcollateralized synthetic gold – DiarioBitcoin
By Hannah Perez
The USDT issuer has just launched a new platform for the creation of synthetic collateralized tokens. aUSDT is the first to debut: a gold token backed by XAUT, Tether’s gold stablecoin.
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- Tether launches Alloy, its new platform to create guaranteed synthetic tokens
- aUSDT debuts, the first token of this platform backed by XAUT, tokenized gold
- aUSDT is a tokenized gold collateralized token, physically backed in Switzerland
- The company announced an airdrop for USDT holders
Tetherthe stablecoin issuing company, has just introduced a new product backed by tokenized gold.
In a statement this Monday, the company behind USDT announced the launch of Alloyyour new web-based platform Ethereum which allows users to create tokens collateralized by XAUT, the stablecoin backed by physical gold Tether.
“Alloy by Tether is an open platform for creating collateralized synthetic digital assets and will soon be part of the new digital asset tokenization platform launching later this year“he said in a post on x the CEO, Paolo Ardoino.
The company explained that its objective is “redefine stability in the digital economy by combining the strengths of a stable unit of account with the security and reliability of gold“, according to the statement.
aUSDT: digital gold backed by tokenized gold
The initiative is part of a proposal by the company to introduce a new line of digital assets “linked“. The first to debut, and which will be available first on the new platform, is aUSDT, a token overcollateralized in XAUT, which means it is backed by real physical gold stored in Switzerland, he said. Tether.
Investors can mint aUSDT by depositing XAUT tokens Tether as a guarantee. XAUT, which represents tokenized gold on the network Ethereumcurrently has a market capitalization of USD $573 million, according to CoinMarketCap.
Tether describedUSDT as a cryptocurrency “designed to track the value of one US dollar“, but whose novelty is that it has an overcollateralized position, which means that the number of new tokens that users can mint is maximized at 75% of the value of the collateral, as explained CoinDesk.
As part of the launch, USDT holders will be able to claim aUSDT tokens for free, the company revealed on social networks. A fund of 10,000,000 aUSDT will be allocated to this promotion. Tether It also said its new platform could potentially offer performance-generating products in the future.
The product was developed in alliance with Moon Gold NA, SA de CV, andMoon Gold El Salvador, Anonymous Society of Variable Capitalboth members of the Group Tether and that they will be in charge of the issuance of assets, the company detailed in the statement. The entities are regulated by the National Commission for Digital Assets (CNAD) of El Salvador.
Tether goes beyond USDT
The new offer of Tether It follows the company’s efforts to expand its services beyond the issuance of USDT, the world’s largest digital stablecoin with a market capitalization amounting to USD $100 billion.
The broadcaster has recently announced strategic investments in companies in various growth areas, including artificial intelligence (AI), biotechnology and mining. Bitcoin. Ardoino recently revealed that Tether is willing to invest US$1 billion in startups through 2025.
The company’s latest news follows record quarterly earnings from Tether registered in the first quarter of 2024.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
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