Tether acquires a $150 million stake in Gold.com, expanding into the gold market amid rising interest in the precious metal. The investment gives Tether a 12% stake in Gold.com and will integrate its gold-backed token XAUT into the platform.

Users on Gold.com can now purchase physical gold using Tether’s stablecoins USDT and USAT. Gold.com’s shares rose by 6% after the announcement of the partnership. Tether’s move follows a surge in gold prices and the growth of the blockchain-based gold token market.

Tether’s CEO, Paolo Ardoino, emphasized the importance of gold as a long-term hedge against market instability. The company’s investment in Gold.com aims to provide users with a secure way to access gold in times of uncertainty. Tether also announced an investment in Anchorage Digital, a U.S. regulated crypto bank.

Read more at Yahoo Finance: Tether buys $150 million stake in Gold.com to boost tokenized gold distribution