Tether, the company behind the world's largest stablecoin USDT Tether, has become a major bullion lender, providing approximately $1.5 billion in financing to Gold.com, one of the largest precious-metals dealers in the United States, according to Bloomberg.
Tether provided about $1.5 billion in gold-lease financing to Gold.com, accounting for most of the dealer's $1.7 billion in outstanding precious-metal leases as of June, according to Bloomberg.bloomberg
Tether charges 1.75% annually on gold leases versus the roughly 6% cost of bank credit, after investing $150 million for a 13.3% stake in Gold.com earlier this year.bloomingbit+1
Tether is also in talks with Swiss refiners to expand its gold-lending business, positioning itself as an alternative to traditional bank financiers in precious metals.bloomingbit