Stablecoin

Tether Gold

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<ul>
 <li>Tether’s new gold-backed stablecoin, aUSDT, overcollateralized by Tether Gold, offers stability and mimics USD value, targeting crypto payments and remittances.</li>
 <li>Operating on Ethereum Mainnet, aUSDT uses smart contracts and Price Oracles for transparency and security, maintaining a stable mint-to-value ratio.</li>
 <li>Regulated in El Salvador and incentivized by a 2:1 USDT bonus, aUSDT is tied to the USDT, Tether’s digital dollar designed to attract users and increase the market depth of digital assets.</li>
</ul>
Tether has come up with a stablecoin, Alloy which is<a href="https://scmp.com/tech/blockchain/article/3267004/crypto-stablecoin-giant-tether-introduces-new-synthetic-dollar-backed-gold" target="_blank" rel="noopener noreferrer nofollow"> backed</a> by gold, but alternatively known as aUSDT tied to the U.S economy. This new asset is known as a tethered asset and is the first type that can be minted through the Tether platform on the Alloy. Synth functions like the synthetic dollar to mirror the value of the U. S. dollar without using actual backing it incorporates Tether Gold (XAUt).
aUSDT has the advantage of being pegged to Tether Gold and fully collateralized to meet any eventualities. This is an open recognition with the base asset aUSDT which may be achieved through the depositing of XAUt where up to 75 percent of the value of the deposited asset may be minted as the aUSDT tokens. The synthetic dollar retains theoretical and actual value by using this method. Tether Gold has a market capitalization of $570,000,000 and is a stablecoin backed by physical bars of gold stored in Switzerland.
The new<a href="https://cryptonewsland.com/tether-to-fuel-ai-biotech-and-fintech-startups-with-1-billion/" target="_blank" rel="noopener noreferrer nofollow"> aUSDT</a> offer is being designed for the target audience that is willing to use cryptocurrency for making payments and remittances while not selling the tokens backed by gold. This innovative solution allows for having a stable digital currency for its use in transactions while ensuring the gold used as collateral retains its value.
This platform relies on the Mainnet on Ethereum; it employs smart contracts compatible with Ethereum to facilitate minting. These contracts maintain a record of all the given collateral as well as the newly generated tokens that enhance its safety and accountability. The minting stability of aUSDT is the function of Price Oracles that also help periodically assess the mint-to-value ratio.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
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 <li><a href="https://cryptonewsland.com/zimbabwes-bold-move-gold-backed-crypto-to-replace-tumbling-currency/" rel="noopener noreferrer nofollow">Zimbabwe’s Bold Move: Gold-Backed Crypto to Replace Tumbling Currency</a></li>
 <li><a href="https://cryptonewsland.com/zimbabwe-gold-backed-digital-currency/" rel="noopener noreferrer nofollow">Zimbabwe to Introduce Gold-Backed Digital Currency</a></li>
 <li><a href="https://cryptonewsland.com/tether-unveils-a-gold-backed-stablecoin-alloy-by-tether/" rel="noopener noreferrer nofollow">Tether Unveils a Gold-Backed Stablecoin — Alloy by Tether</a></li>
 <li><a href="https://cryptonewsland.com/tether-scrutiny-will-it-be-the-next-luna-and-ftt/" rel="noopener noreferrer nofollow">Tether Scrutiny: Will It Be the Next LUNA and FTT?</a></li>
 <li><a href="https://cryptonewsland.com/tether-to-fuel-ai-biotech-and-fintech-startups-with-1-billion/" rel="noopener noreferrer nofollow">Tether to Fuel AI, Biotech, and FinTech Startups with $1 Billion</a></li>
</ul>
The post <a href="https://cryptonewsland.com/tether-launches-gold-backed-stablecoin-usd/" rel="noopener noreferrer nofollow">Tether Launches Gold-Backed Stablecoin USD</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Tether Launches Gold-Backed Stablecoin USD

Crypto News Land

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