Tether Expands Gold Strategy by Adding to Stake in Canadian Firm
Tether, the stablecoin issuer, is expanding its gold investment strategy by increasing its stake in a Canadian gold royalty company. The move is part of Tether's efforts to diversify its reserves and provide more transparency around the assets backing its USDT stablecoin. The company did not disclose the size of the increased investment or the identity of the Canadian firm. However, the decision reflects Tether's continued focus on incorporating gold as a reserve asset to support the stability of its stablecoin. This comes as Tether faces ongoing scrutiny over the composition of its reserves and the transparency of its operations. By expanding its gold exposure, Tether aims to bolster the backing of USDT and address concerns about the asset's stability and reliability.
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