Tether is entering new territory with the launch of Alloy (aUSDT), a gold-backed stablecoin pegged to the US dollar. According to Tether, Alloy will be overcollateralized with Tether Gold (XAUt), a token that represents ownership of physical gold, while it will be pegged to the US dollar. This deal makes Alloy a synthetic dollar, designed to emulate the value and functionality of the US dollar without direct backing.

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