🗣 Doesn't Mica have anything to do with it 🫣😁🤔❗️
in Europe 🚫 STOP stablecoins ⁉️
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 by Tether Gold (XAUt), a token that represents ownership of physical gold, while being pegged to the US dollar. This arrangement makes Alloy a synthetic dollar, designed to emulate the value and functionality of the US dollar without direct backing. Tether's Alloy is an open platform that allows for the creation of diverse tied assets with broader backing mechanisms, potentially including yield products . This technology provides a modern approach to asset management for institutions too, offering a secure digital asset, backed by gold, that can be integrated into portfolios. Moon Gold NA, SA de CV and Moon Gold El Salvador, SA de CV, both licensed by the CNAD in El Salvador, will manage Tether's issuance and management of Alloy, meeting multiple customer segments and regulatory requirements.
“We are thrilled to announce the launch of Alloy by Tether, introducing a class of digital assets backed by gold and tied to a fiat reference currency,” said Paolo Ardoino, CEO of Tether. “While the stabilization mechanism is different than traditional options like USD₮, this innovative solution marks a milestone and we are eager to understand how it will interact with the rest of the market. Additionally, we plan to make this innovative technology available in our upcoming digital asset tokenization platform as well.”#tether #Bitcoin #Binance
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