Key facts
- Tether is discontinuing its gold-backed derivative stablecoin, aUSDT.
- Tether is discontinuing its Alloy platform.
- The aUSDT stablecoin and Alloy platform operated for two years.
- Tether cited a strategic shift to focus on products with stronger user demand.
- Tether will focus on products with greater market opportunity.
- Tether will continue to focus on its existing gold-backed digital asset, XAUT.
Tether, the stablecoin issuer, is ceasing operations for its gold-backed derivative stablecoin, aUSDT, along with its associated Alloy platform. This decision comes after approximately two years since the launch of these products. The company has cited a strategic redirection as the primary reason for this discontinuation. Tether aims to focus its resources and development efforts on products that exhibit stronger user demand and present greater market opportunities. As part of this strategic pivot, Tether will continue to support and promote its existing gold-backed digital asset, XAUT. The company's move indicates a reallocation of its focus towards offerings that are perceived to have more robust market traction and potential for growth, moving away from the aUSDT and Alloy initiatives.