Summary
- Tether has reportedly begun discussions about investing across the gold supply chain.
- Tether already holds US$8.7 billion worth of physical gold, which it said is being used as collateral for Tether Gold.
- It said the current market capitalization of Tether Gold is about US$1.4 billion.
Stablecoin issuer Tether (USDT) has reportedly begun discussions about investing across the gold supply chain.
On the 6th (local time), Cointelegraph, citing a Financial Times (FT) report, said Tether is reviewing ways to deploy capital across the gold industry, including gold mining, refining, trading, and royalty companies.
Tether already holds US$8.7 billion worth of physical gold, which is used as collateral for Tether's gold-linked stablecoin Tether Gold (XAUT). Currently, Tether Gold's market capitalization is about US$1.4 billion.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
