Tether acquires 32% stake in Canadian gold royalty company

Tether, the world’s largest stablecoin issuer, has announced that it has acquired Elemental Altus Royalties, a publicly listed Canadian gold royalty company.
On the 12th (local time), Tether Investments announced that it will invest in long-term, stable physical assets such as Bitcoin and gold.
As part of a strategy to integrate assets into the ecosystem, Elemental (ELE) has acquired 78,421,780 common shares in La Mancha.
The acquisition represents 31.9% of Elemental's total outstanding shares, at 1.
The transaction was traded at 55 Canadian dollars (approximately 1.14 US dollars). The total acquisition price is estimated to be approximately 89.4 million US dollars. Through this investment, Tether plans to invest real-world assets such as gold and Bitcoin in its cryptocurrency.
The company announced its intention to incorporate the cryptocurrency into its ecosystem and build a more robust digital economic infrastructure as a long-term hedge.
Elemental is a Royal Bond based on global gold production, not gold mining.
The company operates a tee and streaming model, which allows Tether to gain diversified exposure to the gold market without the direct mining risk.
"Such a model is consistent with our preference for a strategic, low-risk approach to real assets," the company said, "and will contribute to increasing transparency and stability of digital financial products."
"If Bitcoin is the ultimate hedge against monetary inflation, then gold is the historical
He emphasized that "this investment is not simply asset management, but building financial infrastructure for the next generation."
The acquisition is the first step in the development of Tether’s gold-based stablecoin, Tether Gold (XA).
The announcement is expected to strengthen the credibility and backing of the Tether Ut. Through this announcement, Tether has hinted at the possibility of releasing additional digital asset products based on various raw materials other than gold.