XAUT integrated into crypto lending platform Ledn, Tether plans to launch XAUT-collateralized lending services this year

Odaily reported that stablecoin issuer Tether is expanding its tokenized gold strategy, allowing XAUT holders to borrow against their gold bars, emulating Bitcoin-backed loans without selling the underlying asset. Tether and Ledn are expected to offer gold-backed loans later this year.

Tether has introduced its tokenized product Tether Gold (XAUT) to crypto lending institution Ledn, thereby expanding the use cases for its $23 billion gold reserves. Ledn stated that it is adding support for XAUT, alongside Bitcoin and Tether's stablecoin USDT, and expects to launch lending services for XAUT later this year. Tether CEO Paolo Ardoino said that as digital assets become an increasingly important part of the global economy, the demand for solutions that combine long-term ownership with financial flexibility is growing. (coindesk)