Here’s Why Tether's Gold-Backed Stablecoin Is A Genius Business Idea, Explains Analyst

On Monday, June 17, stablecoin issuer Tether launched its gold-backed stablecoin Alloy (aUSDT) as a synthetic dollar overcollateralized by Tether Gold (XAUt). This launch comes as part of Tether’s attempt to expand its footprint in the rapidly expanding stablecoin market. Popular analyst Willy Woo noted that this is a genius business idea from Tether.