Tether putting $23 billion gold stockpile to work with bullion-backed loans
The stablecoin issuer is extending its tokenized gold strategy by allowing holders of XAUT to borrow against their bullion, mirroring bitcoin-backed lending without selling the underlying asset.
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Summary
- Tether and Ledn are expected to offer gold-backed loans later this year.
- The move extends the utility of Tether’s $23 billion gold reserve allowing holders to borrow against tokenized gold rather than selling it.
- The offering mirrors Ledn’s bitcoin-backed lending model.
