USDT Issuer Tether Launches New Gold-Backed USD-Pegged Stablecoin In Latest Tokenization Push
Portfolio Pulse from Aniket Verma
Tether has launched a new platform, Alloy By Tether, to create gold-backed stablecoins pegged to the U.S. Dollar. The first asset, aUSDT, is a synthetic dollar over-collateralized by Tether Gold (XAUt). This move aims to provide exposure to gold while allowing its use in payments.
June 18, 2024 | 5:33 am
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POSITIVE IMPACT
BlackRock's earlier launch of the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) aligns with the growing trend of tokenizing real-world assets, similar to Tether's new initiative.
BlackRock's involvement in the tokenization of real-world assets through BUIDL indicates a growing trend in the industry, which could benefit from increased interest and investment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Tether has introduced a new platform, Alloy By Tether, to create gold-backed stablecoins. The first asset, aUSDT, is over-collateralized by Tether Gold (XAUt), providing exposure to gold while allowing its use in payments.
The launch of Alloy By Tether and the introduction of aUSDT could increase demand for Tether's stablecoins, potentially boosting its market position and revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100