Tether Expands $23 Billion Gold Reserve with Bullion-Backed Loans
Tether plans to enhance the utility of its $23 billion gold reserve by offering bullion-backed loans to holders of Tether Gold (XAUT), as reported by CoinDesk. This initiative allows users to borrow against their gold holdings, similar to existing bitcoin-backed lending services.
Tether has announced its intention to extend the capabilities of its $23 billion gold reserve by providing bullion-backed loans through its tokenized gold product, Tether Gold (XAUT). This initiative will enable holders of XAUT to borrow against their gold rather than sell it outright, effectively mimicking the model used for bitcoin-backed lending.
As part of this strategy, the company plans to collaborate with the crypto lending firm Ledn, which will integrate support for XAUT alongside existing offerings for bitcoin (BTC) and Tether's own stablecoin, USDT. Tether claims to securely store approximately $23 billion worth of gold, with each XAUT token representing a troy ounce of physical gold held in vaults located in Switzerland.
This new service addresses a growing demand for financial solutions that offer long-term asset ownership while providing users with liquidity options. Tether CEO Paolo Ardoino stated, "As digital assets become an increasingly important part of the global economy, demand is growing for solutions that combine long-term ownership with financial flexibility." By introducing such products, Tether aims to leverage its significant gold holdings and enhance financial participation for cryptocurrency users.
The move also reflects a trend in the industry where companies are exploring diverse asset-backed lending models. Ledn's approach has been focused on ensuring clients' collateral remains securely held, as the company seeks to distinguish itself from other platforms that faced challenges during the crypto market downturn in 2022.
Tether's initiative is part of a broader strategy to diversify its services beyond stablecoins, as the company continues to establish itself across various sectors, including energy and artificial intelligence. In addition to Tether Gold, the firm holds approximately 140 metric tons of gold and has invested in a precious metals marketplace and other related ventures, underscoring its expanding footprint in the commodity sector.
Summary based on original reporting by Jamie Crawley at CoinDesk, originally published Jun 27, 2026. SolanaWire does not republish source content.
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