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Tether will deactivate its Alloy by Tether platform and stop issuing aUSDT, a gold-backed synthetic stablecoin. The company set a deadline of 17 September 2026 for holders to redeem their aUSDT tokens and retrieve the associated XAU₮ collateral.
Tether said it will deactivate Alloy by Tether and discontinue the production of aUSDT tokens, removing one of the limited gold-linked stablecoin experiments from the market. The company stated that the decision follows a review of user activity and reflects its focus on higher-liquidity products.
aUSDT was created in June 2024 as a dollar-denominated stablecoin. It is minted using Tether Gold (XAU₮) as overcollateralization to maintain solvency and price stability under market stress.
Minting of aUSDT has already been deactivated. Tether informed users on 17 June that it upgraded the Alloy by Tether platform to prevent the creation of new positions. After that point, holders will be able to redeem their aUSDT tokens and retrieve their XAU₮ collateral only until 17 September 2026.
Tether said the move was based on a review of user activity, liquidity conditions, and strategic priorities.
Tether described limited adoption for aUSDT. The article states that the token’s market capitalization is around $1.2 million, backed by 14.73 kilograms of gold valued at $2.2 million.
Tether said XAU₮ remains relevant and continues to grow. While aUSDT will be discontinued from Tether’s available assets, XAU₮ is described as a blockchain asset fully backed by gold bars that can be redeemed under certain rules. The article cites more than 22,000 kilograms of real gold backing XAU₮ and an estimated market capitalization of $3 billion.
It also reports that Tether’s gold assets increased in early 2026, rising from 520,089 troy ounces to 707,747 ounces. Their value increased from $2.25 billion to $3.3 billion over the period from the end of 2025 to 31 March.
The article attributes comments to Tether CEO Paolo Ardoino, who said tokenized gold demonstrates seriousness, scale, and reserve discipline similar to institutional-grade holdings.
The article says the tokenized gold market is expanding, with industry analysis indicating that adoption of blockchain-based gold is rising and that Tether Gold is taking a significant share of tokenized commodities.
It also notes that Tether has previously discontinued other experimental stablecoins. In February 2026, Tether stopped producing its offshore Chinese yuan stablecoin CNH₮ due to low utilization and lack of demand, using a process similar to the current one by suspending production before allowing redemptions.
The article adds that Bybit launched XAU₮ options on 12 June, described as potentially the first derivative instrument linked to a tokenized commodity listed on a reputable exchange. It also states that Tether and the Dubai Multi Commodities Center (DMCC) signed a memorandum of understanding to tokenize other commodities, leveraging DMCC’s community of more than 26,000 member organizations.
Ready Card users outside the European Economic Area have reportedly faced an abrupt service halt after a transition involving the card issuer disrupted the USDC spending product, according to user notices shared on X.
A notice shared…
