Ledn Launches Gold Backed Lending Against Tether's $23B Gold Reserve
Crypto lender Ledn is adding support for Tether's XAUT, a tokenized gold product backed by approximately $23 billion in physical bullion, with both companies planning to launch gold-backed loans later this year. The lending facility will allow holders of XAUT, which represents one troy ounce of gold stored in Swiss vaults, to borrow against their collateral without selling the underlying asset.
The initiative marks a shift for Tether's gold reserve from a passive store of value into active credit collateral. Tether CEO Paolo Ardoino highlighted growing demand for digital asset products that combine long-term ownership with financial flexibility. Analysts note the move could expand the collateral options available to the broader stablecoin ecosystem, which has traditionally relied heavily on U.S. Treasuries and Bitcoin, though the long-term impact will depend on loan demand, haircuts, and liquidation mechanics.
From the sources (3 posts)
@globalmacrosigsThe real story is not Tether owning gold. It is Tether turning gold into credit collateral. CoinDesk says Tether is putting a $23B gold stockpile to work by allowing XAUT holders to borrow against bullion. That is a different animal from
@coindeskLATEST: Tether is expanding the use of its $23B gold reserve as crypto lender Ledn adds support for tokenized gold product XAUT, with gold-backed loans expected later this year.
@newstonguex🔴 Tether, Ledn launch gold-backed lending against $23B bullion reserve Tether and crypto lender Ledn will offer loans secured by XAUT (Tether Gold) later this year, allowing tokenized gold holders to borrow without selling. Each XAUT token