Tether Invests $150 Million in Gold.com to Expand Tokenized Gold Access
- Tether has acquired approximately 12% of Gold.com for $150 million, planning to integrate its gold-backed token, XAU₮.
- Gold is currently trading above $5,000 per ounce, reflecting increased market fear and demand for safe-haven assets.
- The investment includes acquiring around 3.371 million common shares at $44.50 each, with Gold.com also investing $20 million into XAU₮.
- Tokenized gold’s market cap has nearly reached $6 billion, expanding fourfold since late last year.
- Tether’s CEO indicated plans to allocate up to 15% of Tether’s portfolio to physical gold as a core reserve asset.
Tether’s strategic investment aims to provide users with a seamless way to purchase both tokenized and physical gold without leaving the crypto ecosystem. This move aligns with the rising demand for hedging options amid market volatility.
With Tether’s stake in Gold.com, users can now easily access gold exposure through USDT transactions, reflecting a significant shift towards integrating traditional assets within the crypto space. (Source)
