Tether will gradually shut down aUSDT to concentrate resources on developing XAUT

According to Cointelegraph, Tether announced the gradual closure of its gold backed stablecoin aUSDT to focus on its core product XAUT. AUSDT was launched in June 2024, with a current market value of approximately $1.2 million, supported by 14.73 kilograms of gold. The closure will be carried out in stages, and users need to redeem XAUT before September 17th. Tether focuses its resources on core products such as XAUT, which currently has a market value of $3 billion and is supported by 22169 kilograms of physical gold.