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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 stated that XAUT is backed 1:1 by physical gold stored in Swiss vaults, with each token corresponding to 1 troy ounce of gold, currently representing approximately $23 billion in gold reserves. Ledn stated that the XAUT used by users as collateral will continue to be custodied on a 1:1 basis and will not be lent out or used to generate returns. (CoinDesk)