Tether announced the phased closure of the Alloy by Tether platform and the token aUSDT, which was an over-leveraged dollar asset backed by Tokenized gold (XAUt). The first phase of the rollback of the project has already started: users are blocked from opening new positions and releasing aUSDT. Active customers are given three months - until September 17 - to pay off tokens and withdraw gold collateral. After this period, direct repayment of the pledge through the platform will not be possible.

The Alloy project, launched in June 2024, allowed users to obtain dollar liquidity without having to sell tokenized gold. However, Tether decided to close down the service due to low demand and a change in priorities. Alloy’s capitalization was only about $1.2 million with 14.73 kg of gold reserves, which is out of proportion to the scale of its main product, XAUt, whose market value reaches $3 billion. The company noted that the experiment helped to study demand for RWA and collateral products, but now resources will be redirected to XAUt development and other key areas.

This is no longer the first optimization of the Tether product line. The issuer had previously discontinued the CNHT (renminbi-linked) stablecoin due to lack of sustainable demand, and had scrapped the EURT under European regulation. Despite the closure of pilot projects, Tether maintains high financial efficiency: the company’s net profit for the first quarter of 2026 amounted to $1.04 billion.