[Tether launches new gold-backed digital asset Alloy]

Tether today announced the launch of a new digital asset called “Alloy”, which is supported by Tether Gold. Created by Moon Gold NA and Moon Gold El Salvador (both part of the Tether Group), Alloy combines the stability of gold with the advantages of digital currency.

The first token, aUSD₮, is pegged to the U.S. dollar and is over-collateralized by Tether Gold, ensuring its value is stable. Users can mint aUSD₮ on the Ethereum mainnet using Tether Gold as collateral. The Alloy platform also allows the creation of various anchored assets, expanding the possibilities for asset management.

Paolo Ardoino, CEO of TEDA, said: “We are pleased to announce the launch of Alloy by TEDA, a digital asset backed by gold and anchored to a reference fiat currency. Although the stabilization mechanism is different from traditional options such as USD₮, this innovation The solution represents an exciting milestone and we can’t wait to see how it interacts with the rest of the market. Additionally, we plan to offer this innovative technology in our upcoming digital asset tokenization platform.”

Tether Gold (XAUT) is a stablecoin that digitally represents one troy ounce (31.1 grams) of gold on the Ethereum blockchain. The announcement emphasized that Alloy aims to simplify institutional gold trading and integrate it into investors’ portfolios.

It is worth noting that TEDA will make frequent moves in 2024. Recently, Paolo Ardoino revealed that TEDA plans to invest $1 billion in new startups by 2025. In addition, the company is focusing on expanding its capabilities beyond crypto products, focusing its efforts on educational content, artificial intelligence, data, and Bitcoin mining. The news comes on the heels of TEDA's record quarterly profit in the first quarter.

#鴉快訊 @Tether USDT