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Uyen Nguyen
@uyennguyen
Tether acquires 32% stake in Canadian gold-focused firm Elemental for $89 million Stablecoin and gold-backed token issuer Tether USDT +0.0064% has acquired an approximate 31.9% stake in Canadian precious metals royalty company Elemental Altus Royalties Corp. through its affiliated but independent investment arm, Tether Investments. The investment offers Tether diversified exposure to global gold production through a royalty and streaming model that sidesteps the direct operational risks of mining, the firm said in a statement on Thursday. Elemental provides funding to mining companies in exchange for royalties on future revenue or the right to purchase metals at discounted prices.
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