This offering pioneers a novel approach to digital currency by tethering its value to Tether Gold (XAU₮), backed by the stability of physical gold. This tethered asset class employs stabilisation strategies such as over-collateralization and secondary market liquidity pools to ensure consistent value alignment with its reference asset. Essentially, aUSDT presents a digital currency similar to traditional currencies but fortified by the direct link to gold collateral, promising heightened stability and reliability in the volatile realm of cryptocurrencies.
aUSDT’s core feature is its ability to serve as a stable unit of account backed by Tether Gold, ensuring each token’s value aligns with the relative stability of physical gold while leveraging the efficiency and accessibility of the ERC-20 token standard. This enables 24/7 global trading and potentially broader adoption. For institutions, aUSDT represents a familiar asset, offering convenient transactions with each token’s value underpinned by physical gold. Collateralised by gold, aUSDT combines the security of gold with the efficiency of digital assets, allowing institutions to engage in global trading using familiar currencies like the U.S. dollar.
“Tether’s commitment to innovation shines through with aUSDT, which introduces a new concept of tethered assets that we have never seen before. We are thrilled to add the aUSDT token to the Bitfinex platform’s diverse slate of token offerings,”said Henry Child, Head of Tokens at Bitfinex.
aUSDT will be available through two licensed entities, Moon Gold NA, S.A. de C.V., and Moon Gold El Salvador, S.A. de C.V. tailored to specific customer segments. One entity will cater exclusively to Eligible Contract Participants (ECP), while the other will serve all other customers. This strategic decision underscores our commitment to providing customised solutions that meet diverse regulatory requirements and customer needs.
Deposits of aUSDT on Bitfinex will be available at approximately 2:30 PM UTC on June 17 2024, subject to network conditions. Trading is planned to commence at approximately 10:00 AM UTC on June 19, 2024, contingent upon liquidity requirements being met. aUSDT will be tradable against US Dollars (aUSDT/USD) and Tether tokens (aUSDT/USDt).
To obtain access to aUSDT on Bitfinex, customers can visit https://www.bitfinex.com/.
*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com.
About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.
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