Benzinga - Stablecoin issuing company Tether (CRYPTO: USDT) launched a new platform Monday that will allow the creation of gold-backed stablecoins pegged to the U.S. Dollar.
What Happened: The new token minting platform called Alloy By Tether will help create tokens that use Tether Gold (CRYPTO: XAUt) as collateral, as opposed to the cash and cash equivalents used for backing USDT, the world's largest stablecoin by market capitalization.
aUSDT, the first Tethered asset, just launched!aUSDT is a synthetic dollar over-collateralised by XAUt (Tether Gold).
Alloy by Tether is an open platform that allows to create collateralised synthetic digital assets and will soon be part of the new @Tether_to digital assets… https://t.co/J8JyWt9duh
— Paolo Ardoino