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Exclusive: Tether Gold on Ledn, Investors Can Borrow Against Gold
Сryptocurrency
Crypto lender Ledn is adding Tether Gold to its platform,
allowing holders of the tokenized gold product to borrow against their assets in the same way Bitcoin customers have used since the company's launch in 2018, Investing.com has learned.
This integration makes Ledn one of the first lending platforms to offer gold-backed loans based on a tokenized collateral model. Tether, one of the largest private gold holders in the world with approximately $23 billion in gold bullion, is bringing $2.5 billion of its tokenized gold assets to the platform.
Loans will be issued and repaid in Tether USD₮ or USA₮ stablecoins, with no monthly fees and the flexibility to repay at any time.
The company noted that XAU₮, where each token represents one troy ounce of physical gold stored in Swiss vaults, puts gold on the same digital track that has made Bitcoin-backed lending increasingly common.
Ledn's model assumes that assets are held on a one-to-one basis and are never lent out, used to generate returns, or used to fund operations.
Starting today, users will be able to trade XAU₮ on Ledn, while loans secured by XAU₮ will become available later this year.
The products are expected to launch in most jurisdictions where Ledn operates, excluding Canada and the EU.