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Tether will launch XAUT gold-backed lending service, further expanding tokenized gold applications.

MarsBitNews
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Mars Finance News, June 28th, Tether is further deploying its approximately $23 billion gold reserves, partnering with crypto lending platform Ledn to expand the use cases for tokenized gold Tether Gold (XAUT). Ledn has announced support for XAUT and plans to launch XAUT collateralized lending services later this year, alongside its existing Bitcoin and USDT collateralized lending products. It is reported that each XAUT token corresponds to 1 troy ounce of physical gold stored in a Swiss vault. Tether states that it holds approximately $23 billion in gold reserves, providing 1:1 backing for XAUT. In the future, users can obtain liquidity by collateralizing XAUT without needing to sell their gold assets, a model similar to Bitcoin collateralized lending. Tether CEO Paolo Ardoino stated that as the importance of digital assets continues to rise in the global economy, market demand is growing for financial instruments that balance long-term holding with capital flexibility. In recent years, Tether has continuously used profits from USDT to expand its business footprint, currently holding approximately 140 tons of physical gold, investing in the precious metals trading platform Gold.com, and collaborating with crypto financing company Antalpha to advance XAUT applications in lending and physical redemption. Additionally, Tether has also ventured into Bitcoin mining, renewable energy, AI infrastructure, and computing power among other sectors.
XAUT-0.11%
BTC-0.37%
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