Bitfinex Lists aUSDT, a USD-Denominated Tethered Asset Backed by Tether Gold

Bitfinex, a premier digital asset trading platform, has announced its pioneering move to become the first exchange to list aUSDT, a USD-denominated

Bitfinex, a premier digital asset trading platform, has announced its pioneering move to become the first exchange to list aUSDT, a USD-denominated tethered asset by Alloy by Tether, according to blog.bitfinex.com.

A Novel Approach to Digital Currency

This innovative offering introduces a new concept in the digital currency space by tethering its value to Tether Gold (XAU₮), which is backed by the stability of physical gold. The asset employs stabilization strategies such as over-collateralization and secondary market liquidity pools to ensure consistent value alignment with its reference asset. Essentially, aUSDT offers a digital currency similar to traditional currencies but with enhanced stability and reliability due to its direct link to gold collateral.

Core Features of aUSDT

aUSDT's primary feature is its role as a stable unit of account backed by Tether Gold. This ensures that each token's value is aligned with the relative stability of physical gold while leveraging the efficiency and accessibility of the ERC-20 token standard. This setup enables 24/7 global trading and potentially broader adoption. For institutions, aUSDT offers convenient transactions with each token's value underpinned by physical gold, combining the security of gold with the efficiency of digital assets.

Strategic Availability and Trading Schedule

aUSDT will be made available through two licensed entities, Moon Gold NA, S.A. de C.V., and Moon Gold El Salvador, S.A. de C.V., each catering to specific customer segments. While one entity will offer aUSDT exclusively to Eligible Contract Participants (ECP), the other will make it available to all other customers. This strategic decision aligns with Bitfinex's commitment to providing customized solutions that cater to diverse regulatory requirements and customer needs.

Deposits of aUSDT on Bitfinex will be available at approximately 2:30 PM UTC on June 17, 2024, subject to network conditions. Trading is planned to commence at approximately 10:00 AM UTC on June 19, 2024, contingent upon liquidity requirements being met. aUSDT will be tradable against US Dollars (aUSDT/USD) and Tether tokens (aUSDT/USDt).

Industry Reactions

Commenting on the listing, Henry Child, Head of Tokens at Bitfinex, said: "Tether's commitment to innovation shines through with aUSDT, which introduces a new concept of tethered assets that we have never seen before. We are thrilled to add the aUSDT token to the Bitfinex platform's diverse slate of token offerings."

Access and Compliance

Interested customers can obtain access to aUSDT on Bitfinex by visiting the Bitfinex website. All users of the platform are subject to Bitfinex’s terms of service (TOS). Notably, U.S. persons, among other prohibited persons, are strictly barred from directly or indirectly holding, owning, or operating an account on the platform.

About Bitfinex

Established in 2012, Bitfinex is a digital token trading platform that provides advanced services for traders and global liquidity providers. It offers a wide range of digital tokens and advanced trading features with a special focus on bitcoin. In addition to a state-of-the-art trading engine, charting tools, andずらりと並んだadvanced trading features, Bitfinex provides access to peer-to-peer financing, an OTC market, and margin trading, among other services. Bitfinex旨在为世界各地的经验丰富交易者和流动性提供商提供无与伦比的支持、工具和创新。

News source：https://www.kdj.com/cryptocurrencies-news/articles/bitfinex-lists-ausdt-usddenominated-tethered-asset-tether-gold.html

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