The gold-backed stablecoin AUSDT is being shut down. Its market cap is only $1.27 million, which is indeed far too marginal compared with USDT’s $186 billion. It’s also normal for Tether to cut lines and focus on its core business. Holders should remember to redeem before September 2026.

CryptoWorld News reports that Tether has announced the closure of its gold-backed AUSDT platform due to persistent weak demand since its launch in 2024. Existing holders must redeem their collateral before September 17, 2026, or lose access. Tether stated that it will focus resources on USDT, XAUT, and higher-growth ecosystem products. The market cap of AUSDT is only $1.27 million, backed by 14.73 kilograms of gold valued at approximately $2.2 million. Compared to Tether's flagship product USDT, which has a circulation exceeding $186 billion, AUSDT remains a niche product. Tether has also ceased minting new AUSDT and opening new positions; current users will still be able to redeem their AUSDT and withdraw XAU₮ collateral over the next three months.