BREAKING NEWS!

Tether Introduces Alloy: A Gold-Backed Digital Asset

Tether, the issuer of the popular stablecoin USDT, has unveiled a new digital asset, Alloy by Tether (XAU₮), backed by physical gold stored in Switzerland. Unlike USDT, pegged to the US dollar, Alloy’s value will fluctuate with gold prices. Tether plans to issue aUSD₮ tokens using XAU₮ as collateral, creating a stablecoin that tracks the value of one US dollar but is influenced by gold's price movements. Paolo Ardoino, Tether's CEO, emphasized the innovative nature of this product and its potential market interactions. Moon Gold NA and Moon Gold El Salvador will manage the issuance and regulatory compliance of Alloy by Tether.

DXM-Insights:

Tether’s gold-backed Alloy offers crypto investors a new avenue for stability and diversification. By tying a digital asset to gold, it provides a hedge against market volatility and fiat currency fluctuations. Investors can benefit from gold’s stability while engaging in the cryptocurrency market, making Alloy an attractive option for those seeking safer digital investments.

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