Tether has acquired a 12 percent stake in Gold.com for $150 million to expand the gold-backed stablecoin market, Cointelegraph reported on Thursday.
With the investment, Tether plans to integrate XAUt, a gold-linked stablecoin, into the Gold.com platform. It also plans to cooperate so customers can buy physical gold using Tether stablecoin USDT and USAT, a stablecoin it launched targeting the U.S. market.
Gold.com is an online marketplace that sells precious metals including gold, silver and platinum, and operates in multiple markets including the United States. Tether CEO Paolo Ardoino (파올로 아르도이노) said, "Gold is a core asset that preserves value amid financial instability and geopolitical uncertainty." He added, "This investment reflects our long-term belief that gold should be accessible and portable like a digital currency."
Chi-gyu Hwang
delight@d-today.co.kr