Tether lets holders borrow against its $23 billion gold stockpile via Ledn

Tether is bringing its tokenized gold (XAUT) to crypto lender Ledn, allowing holders to borrow against their gold without selling it. The move puts Tether's $23 billion physical gold reserve to work as collateral, mirroring bitcoin-backed lending.

• Tether Gold (XAUT) holders will be able to borrow against their tokenized gold through Ledn later this year.
• Each XAUT token represents one troy ounce of gold stored in Swiss vaults, backed by Tether's $23 billion physical bullion reserve.
• The model mirrors Ledn's existing bitcoin-backed lending: client collateral is held 1:1 and not rehypothecated.
• Tether CEO Paolo Ardoino said the move meets growing demand for combining long-term ownership with financial flexibility.

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