stabilcoin

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Tether Updates Users on Strategic Changes to its Product Support Offering.

Tether AbT* today announced that it will begin the planned wind-down of Alloy by Tether and aUSD₮, following a review of user activity, market demand, and the company’s broader priorities.

Alloy by Tether was launched as an open platform designed to explore the creation of digital assets backed by Tether Gold tokens (“XAU₮”), including aUSD₮, an overcollateralized digital asset backed by XAU₮. Since launch, the platform has provided valuable insights into demand for gold-backed digital assets, collateralized products, and the ways users interact with tokenized real-world assets.

Following this review, Tether has decided to focus resources on areas where it is seeing stronger user demand, deeper liquidity, and broader long-term market opportunity, including XAU₮ and other core products across its ecosystem.

The wind-down will take place in phases to support an orderly transition. As a first step, starting today, the Alloy by Tether interface will be updated to remove the ability to open new positions or mint new aUSD₮. Tether is taking this approach to ensure users have a clear path to unwind existing positions while preventing new exposure from being created during the wind-down period.

Existing users will continue to be able to return their aUSD₮ and remove their XAU₮ for the next three months, subject to the applicable Alloy by Tether Terms of Use. Starting on 17 September 2026, customers who have not returned their aUSD₮ will no longer be able to recover their XAU₮ through the platform.

We deeply appreciate your continued support and trust in Tether as we continue working toward a more sustainable and democratized financial system for all. For any questions, please contact our Customer Support team here. For more information and ongoing updates on the wind- down, please visit: https://tether.io/ and https://tether.io/news#Write2Earn

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Fidelity joins Wall Street's race to manage stablecoin reserves.

Fidelity Investments is the latest Wall Street firm seeking a role in one of the fastest-growing corners of digital assets: managing the reserves that back stablecoins.

The asset manager is launching the Fidelity Reserves Digital Fund, a money market fund designed for stablecoin issuers and institutional investors under the reserve requirements established by the recently enacted $GENIUS Act, on Thursday.

The launch comes just days after State Street unveiled a similar product, the State Street Stablecoin Reserves Money Market Fund, underscoring how traditional financial firms are increasingly competing for a market that could swell into the trillions of dollars if stablecoins become a larger part of the global financial system.

Stablecoins — digital tokens pegged to assets such as the U.S. dollar — have grown into a roughly $320 billion market and are widely used for trading, payments and cross-border transfers. Industry forecasts cited by State Street project the sector could expand to between $1.9 trillion and $4 trillion by 2030 as institutional adoption increases.

That growth would create a corresponding pool of reserve assets that must be invested in highly liquid instruments.

The $GENIUS Act, signed into law last year, established the first federal framework for payment stablecoins in the United States. Among other requirements, issuers must hold reserves in cash, short-term Treasury securities and certain government money market funds.

The legislation has created an opportunity for traditional asset managers to offer regulated vehicles that stablecoin issuers can use to manage those reserves while generating yield.

Fidelity's fund will invest in U.S. Treasury bills, notes and bonds with maturities of 93 days or less, cash, overnight repurchase agreements backed by Treasuries and other government money market funds that comply with the law.
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