Tether invests $150 million in Gold.com to enhance gold token access
- Tether acquired a $150 million minority stake, representing a 12% ownership in Gold.com.
- Gold.com shares rose by 6% after the investment announcement.
- The partnership will integrate Tether’s gold-backed token, XAUT, into Gold.com’s platform.
- Gold prices recently surpassed $5,000 per ounce amid rising investor interest.
- The blockchain-based gold token market expanded from $1.3 billion to over $5.5 billion.
- Tether’s XAUT accounts for over 60% of the tokenized gold market, backed by physical gold in Swiss vaults.
This strategic investment aligns with Tether’s goal to increase access to both physical and tokenized gold during times of economic uncertainty and volatility. The integration of USDT and USAT for purchasing physical gold is also being explored.
With this investment, Tether aims to strengthen its position in the growing gold market as it seeks stability amid fluctuating conditions, particularly as the price of gold has recently reached significant highs.(Source)
