Tether lends $1.5 billion to Gold.com, expanding its presence in the physical gold market
Tether, one of the largest crypto companies and issuer of stablecoins like USDT and XAUT, has quietly provided a $1.5 billion loan to U.S.-based bullion dealer Gold.com. The financing allows Gold.com access to precious metals without immediate payment, enabling it to trade before repaying the loan. This move follows Tether's earlier investment in February 2024 when it acquired a 12% stake in Gold.com for $150 million. Tether’s XAUT stablecoin is backed by physical gold and has grown its holdings beyond 146 tons as of Q2 2024. The loan to Gold.com represents the majority of precious-metal-based leases at the dealer, according to Bloomberg's report on September 17. This development highlights Tether's increasing influence in both digital assets and traditional bullion markets. The move could signal a broader strategy for Tether as it seeks greater control over physical gold supply chains while maintaining its dominant position in stablecoin markets with USDT holding around 60% market share.
Topics: gold lending stablecoins Tether XAUT