Tether Launches New Gold-Backed Stablecoin on Ethereum Platform

The new aUSDT token aims to offer a stable dollar value backed by overcollateralized gold reserves.

Tether's aUSDT token is backed by Tether Gold (XAUT) and pegged to the US dollar.
Users can mint aUSDT by depositing XAUT on the new Alloy by Tether platform.
The platform allows for the creation of various tethered assets with potential yield-bearing products.
Tether aims to diversify beyond its flagship USDT stablecoin amid growing competition.
The aUSDT token is designed for payments and remittances without selling gold-backed assets.