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FollowingTether provides approximately US$1.5 billion in loans to U.S. precious metals dealer Gold.com
It has been reported that stablecoin issuer Tether has provided approximately US$1.5 billion in loans to Gold.com, a major U.S. precious metals dealer. This financing accounted for the majority of Gold.com's outstanding precious metals lease debt as of June this year, which totaled approximately US$1.7 billion. The transaction highlights Tether's growing participation in the gold and precious metals markets.
Tether's links to the gold market further deepen
The size of the deal highlights the increasingly close connection between Tether's digital asset business and traditional precious metals markets. Gold.com 's precious metals leasing business involves financing arrangements for assets such as gold and other metals. For Gold.com, Tether's approximately $1.5 billion in funding made up the vast majority of its total $1.7 billion outstanding debt as of June.
Tether is best known as the issuer of the USDT dollar-linked stablecoin and the largest provider of stablecoin by volume. In recent years, Tether's business has surpassed its core stablecoin operations, and gold has gradually made its broader asset strategy clear. The large investment in the precious metals industry shows that major cryptocurrency companies are actively establishing traditional value storage relationships outside the digital asset market.
With approximately US$1.5 billion in funding provided to Gold.com, Tether's participation in the precious metals sector is expected to continue to be closely watched by cryptocurrency investors and traditional financial investors, and the importance of its precious metals strategy will also continue to be highlighted.
