The market value of aUSDT, the gold-backed U.S. dollar stablecoin launched by Tether, exceeded $8 million on its first day

This site (120btC.coM): Tether, the leading stablecoin issuer USDT, announced yesterday (17th) the launch of the "Alloy by Tether" platform, allowing users to transfer Tether gold tokens ( Tether Gold, codenamed XAUT) as collateral to mint new tokens. The first token issued based on this platform is Alloy (aUSDT), a synthetic U.S. dollar stablecoin backed by gold, which is officially called the first "Tethered Asset".

According to the official website, Alloy by Tether is an open platform that allows the creation of multiple Tethered Assets with different stability mechanisms, such as products with income; and Tethered Asset refers to those that pass different stability mechanisms. , such as digital assets that use over-collateralization of liquid assets and liquidity pools in the secondary market to track the prices of other assets. The official post stated: Alloy by Tether provides long-term investors with the opportunity to hold gold and USD-denominated Tethered Assets at the same time, which can be used for daily payments and economic activities.

What is Tether Gold (XAUT)?

XAUt was launched by Tether in cooperation with British precious metal trader TG Commodities Limited. It is a digital asset anchored to gold, and holders can exchange it for 1:1 with physical gold. Since XAUt is based on the ERC-20 token issued by Ethereum and also issues TRC-20 tokens on the TRON chain, gold can be easily traded or transferred on the chain in the form of tokens.

aUSDT scale has exceeded 8 million US dollars

Through the official casting website, users only need to deposit XAUT to mint aUSDT, and the casting fee is 0.25%. Less than a day after its launch, the scale of aUSDT has reached $8.02 million, held by 9 addresses. About 4962 XAUT are used as collateral, accounting for 0.02% of its circulating supply.

aUSDT is developed by Tether subsidiaries Moon Gold and Moon Gold El Salvador. Tether CEO Paolo Ardoino said Alloy by Tether will be part of a digital asset tokenization platform launching later this year.

The founder of Clusters recognizes that aUSDT will become Tether’s second largest product

Regarding the news that Tether has launched a new stable currency, the founder of Clusters highly appreciates this and expresses that it may become Tether’s second largest product. . He said: aUSDT is the flagship product of Tether’s universal “tokenization platform”. Although the term “tokenization” currently refers primarily to “Treasury Bills” 90% of the time, companies like Blackrock are pushing the concept heavily, and Tether is one of the few companies that can match it in terms of track record and scale. one. Keep an eye out for what other assets will be launched next after Alloy.

In addition to indicating that Tether will play an important role in the field of asset tokenization, these remarks also imply that Tether may explore and launch more types of tokenized assets, which may affect and expand tokens. diversify the scope of the market, not just U.S. debt. After all, many countries currently hold reserves in gold or bonds, which will greatly enhance their chances of converting these assets into stablecoins.

It is worth mentioning that XREX, an exchange that has recently received an investment of approximately NT$600 million from Tether, is in the process of issuing XAU1 tokens, which are also XAUT excess reserves and linked to the value of the US dollar. Stablecoin. It is estimated that XAU1 will subsequently enter the XREX payment system, including cross-border payment functions such as digital check BitCheck.

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