Tether introduces a gold-backed stablecoin pegged to the US dollar. The new coin is called Alloy (aUSDT) and is created on the new Alloy by Tether platform. 🏦

Alloy will be backed by Tether (XAUT) gold, but pegged to the US dollar. It is a synthetic dollar that imitates the value and functionality of USD.

aUSDT is developed by Tether Moon Gold and Moon Gold El Salvador. Alloy by Tether will be part of the real asset tokenization platform that will launch this year.

aUSDT is not the first synthetic dollar. Bitcoin-based synthetic dollar Stablesats was introduced on the Lightning Network by Galoy in August 2022.

Tether has increased the attractiveness of the new asset by offering Tether (USDT) holders a 2:1 bonus. 10 million aUSDT has been allocated for this purpose.