According to Bloomberg, Tether has become the primary precious metals financier for U.S. gold dealer Goldcom. As of the end of June, the majority of Goldcom's approximately $1.7 billion in outstanding precious metals leases came from Tether. Goldcom's payables and prepayments to Tether totaled around $1.45 billion. Earlier this year, Tether acquired a 13% stake in Goldcom for $150 million and entered into agreements for precious metals trading and custody with the company. In June, Tether held approximately 146 tons of gold, valued at around $20 billion at current prices, and is attempting to generate returns from its gold holdings through methods like gold leasing. A $100 million gold leasing arrangement signed by both parties in February carries an annual interest rate of 1.75%, which is lower than Goldcom's then-bank credit cost of approximately 6%. https://(wublock123.com)/news/tether-funds-goldcom-15b-precious-metals-financing-68507