Tether Partners with Ledn to Launch XAUT Gold Collateral Lending, Backed by $23B Reserves

XAUT-0.09%
BTC-0.47%

According to BlockBeats, on June 28, Tether partnered with crypto lending platform Ledn to launch XAUT (Tether Gold) collateral lending services. The service will allow users to borrow against XAUT holdings without selling their gold assets, joining Ledn's existing Bitcoin and USDT lending products.

Each XAUT token represents one troy ounce of physical gold stored in Swiss vaults and backed 1:1 by Tether's approximately $23 billion in gold reserves. Ledn plans to roll out the service later this year.

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