TechFlow reports that on June 28, Tether’s tokenized gold product, Tether Gold (XAUT), has been integrated into the crypto lending platform Ledn, with plans to launch XAUT-backed lending services later this year. Tether states that XAUT is backed 1:1 by physical gold stored in Swiss vaults, with each token representing one troy ounce of gold—currently equivalent to approximately $23 billion in gold reserves. Ledn notes that users’ XAUT collateral will remain held at a 1:1 ratio and will not be lent out or used for yield generation.
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