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One of the largest crypto companies, <a href="https://www.thestreet.com/crypto/markets/tether-boosts-gold-holdings-to-over-146-tons" rel="noopener noreferrer nofollow">Tether</a> is best known for its stablecoins, <a href="https://www.thestreet.com/crypto/markets/amid-crypto-turmoil-this-stablecoin-quietly-made-1-5-billion-in-q2" rel="noopener noreferrer nofollow">USDT</a> and <a href="https://www.thestreet.com/crypto/markets/major-gold-holder-brings-23-billion-stockpile-to-loans" rel="noopener noreferrer nofollow">XAUT</a>.
While USDT is pegged 1:1 to the U.S. dollar, XAUT is pegged to an ounce of gold.
<a href="https://www.thestreet.com/crypto/explained/explained-what-is-a-stablecoin" rel="noopener noreferrer nofollow">Related: Explained: What is a stablecoin?</a>
XAUT is a&nbsp;digital asset available as an ERC-20 token on the <a href="https://thestreet.com/crypto/ethereum" rel="noopener noreferrer nofollow">Ethereum</a> blockchain and as a TRC20 token on the <a href="https://thestreet.com/crypto/tron" rel="noopener noreferrer nofollow">TRON</a> blockchain.&nbsp;
One XAUT is backed by one fine troy ounce of physical gold. It meets the Good Delivery standard of the London Bullion Market Association (LBMA).
The allocated gold is identifiable with a unique serial number, purity, and weight and is redeemable in the form of physical gold.
<a href="https://www.thestreet.com/crypto/markets/tether-boosts-gold-holdings-to-over-146-tons" rel="noopener noreferrer nofollow">As reported earlier</a>, Tether&nbsp;published its attestation for the second quarter of the year on July 31, in which it boasted of <a href="https://tether.io/news/tether-posts-strong-q2-performance-generates-1-5b-net-operating-profit-maintains-4-11b-reserve-buffer-and-expands-gold-holdings-to-more-than-146-tons/" rel="noopener noreferrer nofollow">expanding its gold holdings</a> to more than 146 tons.
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<h2 id="tether-quietly-lends-1-5-billion-to-gold-com">Tether quietly lends $1.5 billion to Gold.com</h2>
Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-09-16/tether-gold-loans-swell-with-1-5-billion-for-us-bullion-dealer" rel="noopener noreferrer nofollow">reported</a> on Sep. 17 that&nbsp;Tether has turned out to be a major&nbsp;gold lender, providing approximately $1.5 billion in financing&nbsp;to the popular U.S. dealer, Gold.com.
Citing Gold.com's&nbsp;annual report, the report mentions that Tether's $1.5 billion loan accounted for the majority of&nbsp;precious-metal-based leases outstanding at the bullion dealer by the end of June.
The financing lets Gold.com access the bullion and other precious metals without an immediate payment. The dealer can engage in trading and other operations before paying off the loan.
One of the&nbsp;world's&nbsp;largest private gold holders,&nbsp;Tether had earlier&nbsp;<a href="https://ir.gold.com/news-events/press-releases/detail/216/gold-com-announces-150-million-strategic-investment-from-tether" rel="noopener noreferrer nofollow">invested</a>&nbsp;$150 million in Gold.com in February, acquiring a 12% stake in the dealer.
The latest revelation indicates the crypto company is further expanding into the gold market while its USDT stablecoin dominates the segment with a <a href="https://defillama.com/stablecoins?chartView=pie" rel="noopener noreferrer nofollow">60% market share</a>.
<a href="https://www.thestreet.com/crypto/markets/major-gold-holder-eyes-becoming-a-top-5-u-s-treasury-buyer" rel="noopener noreferrer nofollow">Related: Major gold holder eyes becoming a top 5 U.S. Treasury buyer</a>

Major gold holder quietly lends $1.5 billion to top U.S. dealer

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