Tether will gradually shut down aUSDT, its gold- Peg and Over-Collateralizationstablecoin , to focus on core products with higher demand. Users have three months to exchange aUSDT for XAUT, with a deadline of September 17th.
aUSDT is a Derivative product based on XAUT, launched in June 2024. Users deposit XAUT as collateral to mint aUSDT. Currently, this Token has a market Capital of approximately $1.2 million and is backed by 14.73 kg of gold, equivalent to approximately $2.2 million.
The closure of aUSDT will be implemented in phases. Tether stated that it will focus resources on XAUT and other core products.
XAUT currently has a market Capital of approximately $3 billion and is backed by 22,169 kg of physical gold.
