Tether putting $23 billion gold stockpile to work with bullion-backed loans
Tether is expanding the utility of its $23 billion gold reserve by partnering with crypto lender Ledn to offer gold-backed loans. This move allows users to leverage their Tether Gold (XAUT) tokens as collateral for borrowing without selling their physical assets.
Why it matters
This initiative represents a significant step in integrating traditional physical assets with decentralized finance, potentially increasing liquidity for gold holders.
Tether has expanded the use of its $23 billion gold reserves by bringing its tokenized product Tether Gold (XAUT) to crypto lender Ledn.
The article reports on business developments and partnerships without taking a stance on the company's financial stability or the risks of crypto lending.
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