Tether Becomes Major Financier of US Gold Dealer

Tether has expanded its reach beyond issuing the $USDT stablecoin by providing significant financing to US precious-metals dealer Gold.com. According to Bloomberg, Tether gave about $1.5 billion to Gold.com in June, with most of it going towards outstanding precious-metal leases.

This arrangement allows Gold.com to acquire precious metals without paying the full cost upfront. The dealer can then use the metal for trading and retail operations before settling its debt.

Gold.com owed Tether around $1.45 billion through payables and advances, making it more than just a large buyer of gold. This shows that Tether is now helping finance the movement of bullion through one of the largest precious-metals dealers in the US.