An alloy, in particular for an anti-friction coating, includes elements which form a matrix and at least a soft phase and/or a hard phase, which soft phase elements and/or hard phase elements form a solid solution or a bond with the matrix element. The soft phase and/or hard phase is dispersed in the matrix and the solid solution or bond is formed only in the region of the phase boundary of the matrix with the soft phase and/or with the hard phase.