[DigitalToday reporter Chi-gyu Hwang (황치규)] Bitcoin-backed lending platform Led has added a loan service backed by Tether Gold (XAUt).
A recent Cointelegraph report said investors can now borrow funds by pledging XAUt as collateral without selling it.
Led said it maintains a structure in which it stores customer collateral on a one-to-one basis and does not take it as re-collateral, lend it out to third parties, or use it to generate returns. Loans are issued in the Tether stablecoin USDT or USAt, and can also be repaid in the same assets.
There is no monthly repayment schedule, and borrowers can repay at any time.
The service will be rolled out sequentially in most regions where Led operates. It is not currently available in Canada and the European Union.
Chi-gyu Hwang
delight@d-today.co.kr