Tether and Ledn to Launch XAUT-Backed Lending Services Later This Year

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Tether and Ledn will launch XAUT-backed lending services later this year, according to token launch news. The service will allow XAUT holders to borrow without selling their assets, similar to Bitcoin-backed loan offerings. This move expands Tether’s tokenized gold strategy through its partnership with Ledn.

Odaily Planet Daily reports that stablecoin issuer Tether is expanding its tokenized gold strategy by allowing XAUT holders to borrow against their gold bars, mimicking bitcoin-backed loans without selling the underlying assets. Tether and Ledn are expected to offer gold-backed loans later this year.

Tether has introduced its tokenized product, Tether Gold (XAUT), to the crypto lending platform Ledn, expanding the use cases for its $23 billion gold reserve. Ledn stated it is increasing support for XAUT, along with Bitcoin and Tether’s stablecoin USDT, and expects to launch lending services for XAUT later this year. Tether’s CEO, Paolo Ardoino, said that 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. (Coindesk)

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