business
Tether and Ledn to Let XAUT Holders Borrow Against Tokenized Gold Later This Year
Tether is extending its tokenized gold product XAUT to allow borrowing against physical bullion holdings. The stablecoin issuer and Ledn plan to launch the service later this year. Tether holds roughly $23 billion in gold reserves backing the tokens.
CoinDeskAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Tether is extending its tokenized gold strategy by allowing holders of XAUT to borrow against their bullion through a partnership with crypto lender Ledn. CoinDesk reported that the companies expect to offer gold-backed loans later this year. Ledn is adding support for XAUT alongside bitcoin and USDT.
Tether holds approximately $23 billion worth of physical gold bullion backing its XAUT tokens, having accumulated roughly 140 metric tons. Each token represents one troy ounce of gold stored in vaults in Switzerland. " Ledn said client collateral will continue to be held 1:1 without being lent out or used to generate yield.
Tether has also invested in precious metals marketplace Gold.com and partnered with crypto financing firm Antalpha to expand the use of XAUT in lending and physical redemption.
Transparency
How sources framed this
Single source — no framing comparison available.
CorroborationModerate · 1 source
