Tether Supports $1.7B Gold.com Precious Metals Lease Financing

Tether has reportedly supported the majority of a $1.7 billion (approximately KRW 2.312 trillion) unsecured precious metals lease by U.S.-based gold trading firm Gold.com, according to Bloomberg. The report cited Gold.com's annual filing, stating that as of June 30, Tether held receivables and prepayments totaling $145 million (approximately KRW 1.972 trillion) from Gold.com. The total financing provided by Tether for the unsecured precious metals lease was reported to be around $150 million (approximately KRW 240 billion). Tether disclosed in its official statement that it invested $15 million (approximately KRW 204 billion) earlier this year, acquiring a 12% stake in Gold.com. The two companies are advancing collaboration efforts connecting physical precious metals with digital finance.