Tether Becomes Major Bullion Lender with $1.5 Billion Financing for Gold.com

Tether has established itself as a significant player in the bullion lending market by providing approximately $1.5 billion in financing to Gold.com, a U.S.-based dealer in precious metals. This financing positions Tether as the primary creditor for Gold.com, which has $1.7 billion in outstanding leases for precious metals. As of June, Tether was owed around $1.45 billion in payables and advances from Gold.com, according to the dealer's annual report. Earlier this year, Tether also acquired a 13% stake in Gold.com for $150 million.

In addition to its financing role, Tether has amassed one of the largest private gold hoards globally, holding 146 tons of gold valued at approximately $20 billion. This accumulation has been fueled by the issuance of USDT, Tether's dollar-pegged stablecoin, which is exchanged for dollars and invested in various assets, including U.S. Treasuries and gold. The partnership between Tether and Gold.com includes agreements for mutual buying and selling of precious metals, with Tether's gold stored at Gold.com's facility in Las Vegas, Nevada.

Gold.com CEO Greg Roberts highlighted the advantages of this partnership, noting that it offers cheaper liquidity compared to traditional dollar facilities. The collaboration allows Tether to utilize its gold holdings effectively while generating returns. Additionally, Tether has engaged with Swiss gold refiners to explore further financing opportunities amid rising gold prices and market volatility, which have impacted banks' willingness to lend to refiners. Gold loans are essential in the physical bullion market, enabling businesses to finance inventory without direct exposure to gold price fluctuations.

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Source: KLEA News