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Tether and Ledn Plan Gold-Backed Loans Using XAUT Later This Year

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Tether and crypto lender Ledn are expected to offer gold-backed loans later this year using Tether Gold (XAUT), which is backed by a $23 billion gold reserve. According to NS3.AI, Ledn said it is adding support for XAUT alongside bitcoin and USDT. Tether said each XAUT token represents one troy ounce of gold stored in vaults in Switzerland. The planned product would allow borrowers to use XAUT as collateral for loans, expanding Ledn’s collateral options beyond its existing supported assets.

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