Tether becomes major gold lender with $1.5 billion Gold.com financing
- —Tether is due to receive about $1.45 billion from Gold.com as of end-June
- —Tether's gold reserves reached 146 tonnes worth $20 billion
- —In February, Tether and Gold.com agreed on a $100 million leasing line at 1.75% per annum
- —Tether bought 13% of Gold.com for $150 million earlier this year
Why it matters: Tether is expanding the use of USDT reserves into physical gold, becoming a significant player in the precious metals market.
Source: Crypto Briefing