Tether announced that its gold‑backed token XAUT will be listed on the platform of crypto lender Ledn, enabling users to borrow against the token later this year. The addition follows Tether’s strategy to monetize its privately held gold reserves through tokenization.
Integration Details
Ledn will support XAUT together with Bitcoin, currently trading around $60,603.09, and the USDT stablecoin. The partnership allows investors to pledge the gold‑linked token as collateral without liquidating the underlying bullion.
Gold Reserves and Token Mechanics
Tether holds roughly $23 billion in physical gold, each XAUT token representing one troy ounce stored in Swiss vaults. By converting the bullion into a blockchain‑based asset, the company aims to provide liquidity similar to Bitcoin while preserving the metal’s value.
Implications for the Crypto Market