Tether has acquired approximately 31.9% of shares in Elemental Altus, a Canadian gold royalty company. This investment signals Tether’s intent to solidify its financial infrastructure backed by tangible assets like gold and Bitcoin.
The move to enhance the backing for Tether’s gold-backed token, XAUt, is expected to boost market credibility. With significant holdings of over 100,000 Bitcoins and nearly 80 tons of gold, Tether aims to improve transparency and stability in its stablecoin offerings.
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