Tether provides approximately $1.5 billion in financing to U.S. gold traders

According to Bloomberg, the stablecoin issuer Tether has become an important lender of gold. As of the end of June, the financing provided by Tether to the U.S. gold trading platform Gold.com accounted for most of its $1.7 billion in outstanding precious metal leases.

Gold.com’s payables and advance payments to Tether totaled $1.45 billion. Tether invested in this platform earlier this year.