Alloy By Tether Will Be Backed By Gold

(MENAFN- eTrendy Stock) Tether. has recently added a new feature to its ecosystem, aiming to take over the crypto space.

In a press release, the stablecoin issuer announced the launch of Alloy by Tether. Alloy by Tether is a new asset backed by Tether Gold. The new asset aims to combine the benefits of a stable unit of account with the security and reliability of gold. This latest offering seeks a dependable option for those looking for stability and security in their digital assets.

Alloy by Tether: A Gold-Backed Digital Asset

The recent launch of Alloy by Tether is aimed at users wanting to perform digital transactions, payments, and remittances with a familiar currency. Users can complete these transactions without selling their Tether Gold (XAUT).

Alloy by Tether introduces tethered assets that track reference asset prices through over-collateralization and secondary market liquidity pools. The first token in this lineup is aUSDT, designed to track the value of $1. USDT is over-collateralized by Tether Gold, supported by physical gold stored in Switzerland. Users can create aUSDT tokens using XAUT as collateral.

The smart contracts for Alloy by Tether are deployed on the Ethereum Mainnet. Users can mint aUSDT by depositing XAUT as collateral, with transparency ensured by smart contracts and Price Oracles. Alloy by Tether allows for the creation of various tethered assets, including potential yield-bearing products.

Moon Gold NA and Moon Gold El Salvador manage the issuance and management of Alloy by Tether. Tether seeks a $1 billion investment in future A.I. and A.I. technology ventures. Recently, Tether invested $200 million in Blackrock Neurotech, a neural implant firm competing with Elon Musk's Neuralink.

Tether to Invest $1bn Over Next Year

Tether plans to invest $1 billion in infrastructure, A.I., and A.I. development over the next 12 months, according to CEO Paolo Ardoino. Additionally, Tether has provided significant financial backing to the XREX Group to enhance innovative financial solutions and create efficient cross-border B2B payment gateways. Tether invested $18.75 million in XREX Group to improve solutions for detecting and preventing the illicit use of stablecoins.

In other news, Tether CEO Paolo Ardoino criticized the Ripple CEO for spreading fear, uncertainty, and doubt (FUD) about USDT ahead of Ripple's stablecoin launch in June.


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