Tether is making big moves in the precious metals game. The USDT stablecoin issuer has handed US gold dealer Gold.com roughly $1.5 billion in funding, putting Tether front and center as a significant lender in this niche.

What Happened

This deal with Gold.com puts Tether among the top players financing gold supply and leasing. Based on available info, Tether has stepped in as a major creditor, with a loan size on par with some of the biggest deals in the metals market.

Tether’s Share of Gold.com’s Obligations

Tether now covers about 85% of Gold.com’s gold leasing obligations. That means most of Gold.com’s gold leasing is now backed by a single lender, making Tether a key part of the dealer’s business model.

Tether’s Gold Reserves

Tether keeps stacking gold. As of Q2, its reserves included 146 tons of gold, worth a total of $18.8 billion.

Tether’s focus on physically-backed gold deals and growing its own reserves highlights its strategy to grab a bigger piece of the precious metals market.