The post Tether Expands Into Gold Mining and Strengthens XAUT Backing appeared on BitcoinEthereumNews.com. Key Highlights Tether invests over 100 million in gold mining and trading. XAUT stablecoin is backed by real gold reserves for security. Partnerships include Elemental Altus and mergers with EMX. Tether Expands Into Gold Mining With Over 100 Million in Investments Tether, the issuer of the USDT stablecoin, is making strategic moves in the gold mining industry, planning over 100 million in investments, the Financial Times reported. The company has held talks with multiple counterparties and aims to invest across the entire gold production chain, from ore mining to trading and financing companies that purchase deposits to earn royalties. Strategic Partnerships and Investments Tether previously invested $89 million in Elemental Altus, a firm that finances gold mining companies in exchange for royalties and preferential terms for purchasing gold. On September 4, Tether entered into a new agreement to purchase an additional $100 million in shares, while Elemental Altus merged with EMX, expanding its operational capacity. The company has also maintained a significant reserve of real gold, which serves as collateral for the XAUT stablecoin, strengthening the stablecoin’s backing. Despite these ambitious moves, Tether’s entry into the gold industry has been met with skepticism. Industry insiders suggested the company “hardly has a strategy” and “just likes gold.” Tether also held discussions with Terranova Resources, but the talks were unsuccessful. The company has not publicly commented on these negotiations. Why This Matters Tether’s investments could reshape the gold mining and stablecoin landscape by: Strengthening XAUT collateral with real gold reserves. Expanding influence across the gold production and trading chain. Forming financial partnerships with key gold industry players. Source: https://coinpaper.com/10918/tether-plans-100-million-gold-investment-to-back-xautThe post Tether Expands Into Gold Mining and Strengthens XAUT Backing appeared on BitcoinEthereumNews.com. Key Highlights Tether invests over 100 million in gold mining and trading. XAUT stablecoin is backed by real gold reserves for security. Partnerships include Elemental Altus and mergers with EMX. Tether Expands Into Gold Mining With Over 100 Million in Investments Tether, the issuer of the USDT stablecoin, is making strategic moves in the gold mining industry, planning over 100 million in investments, the Financial Times reported. The company has held talks with multiple counterparties and aims to invest across the entire gold production chain, from ore mining to trading and financing companies that purchase deposits to earn royalties. Strategic Partnerships and Investments Tether previously invested $89 million in Elemental Altus, a firm that finances gold mining companies in exchange for royalties and preferential terms for purchasing gold. On September 4, Tether entered into a new agreement to purchase an additional $100 million in shares, while Elemental Altus merged with EMX, expanding its operational capacity. The company has also maintained a significant reserve of real gold, which serves as collateral for the XAUT stablecoin, strengthening the stablecoin’s backing. Despite these ambitious moves, Tether’s entry into the gold industry has been met with skepticism. Industry insiders suggested the company “hardly has a strategy” and “just likes gold.” Tether also held discussions with Terranova Resources, but the talks were unsuccessful. The company has not publicly commented on these negotiations. Why This Matters Tether’s investments could reshape the gold mining and stablecoin landscape by: Strengthening XAUT collateral with real gold reserves. Expanding influence across the gold production and trading chain. Forming financial partnerships with key gold industry players. Source: https://coinpaper.com/10918/tether-plans-100-million-gold-investment-to-back-xaut