On June 17 Tether announced the phased closure of Alloy by Tether and aUSDT — a dollar asset over-collateralized with the Tether Gold (XAUt) token.
The first phase has already started: immediately after the interface update, users will no longer be able to open new positions and mint new aUSDT.
Existing clients were given three months to return aUSDT and withdraw the collateral in XAUt. From September 17, users who do not redeem aUSDT will lose the ability to withdraw the collateral directly through the platform.
Alloy by Tether was launched on June 17, 2024. The platform's key product, aUSDT, was meant to remain over-collateralized: the value of the locked gold exceeds the amount of the issued asset. The idea was to obtain dollar liquidity without selling tokenized gold.
Tether explained the closure by a review of user activity, market demand, and the company's priorities. It intends to concentrate resources on XAUt and other key ecosystem products.
Alloy by Tether's capitalization was estimated at about $1.2 million, and its reserves amounted to 14.73 kg of gold worth about $2.2 million. For comparison, XAUt's market value is $3 billion, with collateral of 22,169 kg of precious metal.
According to company representatives, Alloy helped test demand for gold digital assets and collateral products, as well as understand how users work with tokenization and RWAs.
This is not the first reduction of Tether's product line. In February the company stopped developing the CNHT stablecoin based on the Chinese yuan, citing changing market conditions, low interest in the product, and limited sustained demand.
In November 2025 Tether wound down EURT, explaining the decision by regulatory conditions in Europe and a focus on the Hadron tokenization platform.
Recall that for the first quarter of 2026 the stablecoin issuer's net profit was $1.04 billion.
Source: ForkLog
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