Tether's Alloy platform is winding down. Users who minted aUSD₮ against XAU₮ collateral have until September 17, 2026 to repay their stablecoin and redeem their gold-backed tokens. New position creation and minting are already shut off. The deadline is hard — no grace period.
What aUSD₮ holders need to do
Minters should head to the official redemption link on Tether's site, connect the wallet that opened the position, check the outstanding amount and any fees, approve the aUSD₮, repay, and redeem XAU₮. Tether recommends finishing by September 10–12 to avoid last-minute hiccups. Keep a small ETH buffer for gas.
Secondary holders are out of luck
If you bought aUSD₮ on an exchange or from someone else, you can't redeem it for XAU₮ via the Alloy platform. The only option is to swap aUSD₮ for USDT or USDC on a decentralized or centralized exchange. The aUSD₮ supply sits at about 50 million tokens, with 82 holders on Etherscan. Market cap is just under $50 million.
Peg trouble and a Shariah certification
AUSD₮ hit an all-time low of $0.9698 on June 30, 2026 — a sign of peg stress as the unwind approached. Separately, XAU₮ received Shariah certification on July 27, 2026. That certification is independent of the Alloy wind-down, so XAU₮ itself continues to trade.
The clock is ticking
The aUSD₮ contract on Ethereum is 0x9eead9ce15383caeed975427340b3a369410cfbf. Minters should confirm their holdings now. After September 17, there's no turning back.
