Tether announced that its tokenized gold token XAU₮ will be added to Ledn’s lending platform later in 2026, allowing users to borrow against the token without selling the underlying gold. XAU₮ is a tokenized representation of one fine troy ounce of physical gold held in Swiss vaults. Tether’s XAU₮ reserves rose to 707,747.139 fine troy ounces by March 31, 2026, up from 520,089.350 ounces at the end of 2025, and the token’s market value increased from about $2.25 billion to more than $3.3 billion in the first quarter. Ledn said it will support XAU₮ alongside Bitcoin, USD₮ and USA₮. Users will be able to hold and trade the token now, while borrowing against it will begin later in 2026. The platform will keep client collateral on a 1:1 basis and will not lend out or use the assets to generate yield. The addition follows Ledn’s existing Bitcoin‑backed lending model, which lets borrowers access liquidity while retaining exposure to the collateral asset. The 2022 crypto‑lending failures highlighted the importance of risk controls and the avoidance of rehypothecation. Tether’s CEO Paolo Ardoino said demand is growing for solutions that combine long‑term asset ownership with financial flexibility. Tether has been expanding the utility of XAU₮ beyond storage and trading, including a Visa card that offers cashback in tokenized gold and investments in Bitcoin mining, renewable energy, AI infrastructure and other technology firms. The company’s total gold‑related assets are valued at about $23 billion, comprising holdings across XAU₮ and other products. Borrowing against XAU₮ could broaden the token’s role in crypto markets, giving users a way to obtain stablecoin liquidity while maintaining gold exposure.