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Tether’s tokenized gold product, Tether Gold (XAUT), has been integrated into the crypto lending platform Ledn and plans to launch XAUT-collateralized lending services later this year. Tether states that XAUT is backed 1:1 by physical gold stored in Swiss vaults, with each token corresponding to 1 troy ounce of gold; it currently represents approximately $23 billion in gold reserves. Ledn says that XAUT users deposit as collateral will continue to be held in custody on a 1:1 basis and will not be lent out or used to generate returns. (CoinDesk)