Tether Takes Minority Stake in Gold-Focused Investment Company Elemental Altus

Tether Takes Minority Stake in Gold-Focused Investment Company Elemental Altus

Stablecoin issuer Tether's investment arm has taken a minority stake in Elemental Altus (ELE), a publicly-listed precious metals investment company.Tether Investments is aiming to diversify the assets that back its stablecoin USDT, the world's largest such token with a market capitalization of $155 billion, expanding into tangible assets and precious metals, according to an announcement on Tuesday.Tether acquired 78,421,780 common shares in Elem…

Leading Stablecoin Issuer Tether Invests $89,000,000 Into Precious Metals Royalty Company To Deepen Exposure to Gold - The Daily Hodl

The issuer of the largest stablecoin by market cap just acquired significant holdings with a gold-focused royalty company listed in Canada. In a statement, Elemental Altus says that Tether just completed the purchase of 78,421,780 common shares at a price of C$1.55, or around $1.14 per share, for a total of C$125,553,759, or about $89 million. The acquisition represents approximately 31.9% of the precious metals royalty firm’s issued and outstan…

Leading Stablecoin Issuer Tether Invests $89,000,000 Into Precious Metals Royalty Company To Deepen Exposure to Gold

The issuer of the largest stablecoin by market cap just acquired significant holdings with a gold-focused royalty company listed in Canada. In a statement, Elemental Altus says that Tether just completed the purchase of 78,421,780 common shares at a price of C$1.55, or around $1.14 per share, for a total of C$125,553,759, or about $89... The post Leading Stablecoin Issuer Tether Invests $89,000,000 Into Precious Metals Royalty Company To Deepen …

Tether Investments acquires stake in Elemental Altus, expands into gold-backed assets

Tether Investments, an affiliate of the Tether Group, has announced the acquisition of a 31.9% stake in Elemental Altus Royalties, a Canadian gold-focused royalty company.The post Tether Investments acquires stake in Elemental Altus, expands into gold-backed assets appeared first on Mining Technology.

Tether Acquires 32% Stake In Elemental Altus To Bolster Gold-Backed Asset Strategy

Tether’s $89.2M investment gives it a 31.9% stake in Elemental Altus Royalties. Tether aims to strengthen gold-backed assets and diversify its stablecoin reserves. The deal allows Tether to expand real-world asset support for its digital token ecosystem. Tether, the company behind the largest stablecoin in the world by market capitalization, has purchased 31.9% of Elemental Altus Royalties Corp., a Canadian gold-centred royalty firm. This invest…