Tether, the issuer of the largest stablecoin in the cryptocurrency market, has created a new synthetic dollar backed by gold.
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Tether Launches 'Alloy Project', A New Dollar-Pegged Stablecoin
According to PANews, Tether has announced the launch of the 'Alloy Project', a new dollar-pegged stablecoin over-collateralized by Tether Gold (XAU₮). The Alloy Project by Tether was developed by Moon Gold NA, SA de CV and Moon Gold El Salvador, SA de CV, both of which are members of the Tether Group. The first token in the Alloy by Tether series is aUSD₮. This digital currency is designed to track the value of one US dollar.
What sets aUSD₮ apart is that it is over-collateralized by Tether Gold (XAU₮), meaning it is backed by real physical gold stored in Switzerland. This new stablecoin aims to provide a secure and stable digital asset that is tied to the value of the US dollar, while also being backed by a tangible asset, gold, providing an additional layer of security and stability for users.
What sets aUSD₮ apart is that it is over-collateralized by Tether Gold (XAU₮), meaning it is backed by real physical gold stored in Switzerland. This new stablecoin aims to provide a secure and stable digital asset that is tied to the value of the US dollar, while also being backed by a tangible asset, gold, providing an additional layer of security and stability for users.
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