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Crypto

Led adds Tether Gold-backed loans, expands bitcoin-focused lending model

Bitcoin-backed lending platform Led has added loans backed by Tether Gold (XAUt). Investors can borrow funds by pledging XAUt as collateral without selling it, a Cointelegraph report said. Led said it keeps customer collateral on a one-to-one basis and does not rehypothecate, lend it out or use it to generate returns. Loans are issued in USDT or USAt and can be repaid in the same assets.

Crypto

Tether to end gold-backed stablecoin aUSDT and Alloy after two years

Stablecoin issuer Tether will end its gold-backed stablecoin aUSDT and its issuance platform Alloy by Tether two years after launch, Cointelegraph reported on June 18. Tether made the decision after reviewing user activity, market demand and company priorities. It plans to focus resources on areas with strong demand and broader long-term market opportunities, including its gold-linked digital asset XAUT. Users can mint aUSDT by depositing XAUT as collateral via Alloy.

Crypto

Tether, Fasset to launch gold-backed stablecoin payment card with up to 6 percent cashback

Tether, the issuer of dollar stablecoin USDT, will launch a Visa card with fintech company Fasset that pays cashback in XAUT, its gold-linked stablecoin. The card works on the Visa network and can be used to pay in fiat currency at Visa merchants worldwide. It will pay up to 6 percent cashback in XAUT on eligible transactions. It also supports payments by converting USDT into fiat currency.