Tether has emerged as a major bullion lender after providing approximately $1.5 billion in financing to Gold.com, making it the dominant creditor behind the US dealer’s $1.7 billion in outstanding precious-metal leases. The world’s largest dollar-pegged stablecoin issuer also acquired a 13% stake in Gold.com for $150 million earlier this year. Tether has built one of the world’s largest private gold hoards, holding 146 tons worth approximately $20 billion. The partnership includes storage of Tether’s precious metals at Gold.com’s Las Vegas facility, with a $100 million gold-leasing facility carrying an annual rate of 1.75% compared to about 6% for Gold.com’s bank credit facility.
Source: Read the original article
