Tether acquires 32% stake in Canadian gold royalty company

Tether, the world’s largest stablecoin issuer, USDT, 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 its strategy to integrate the industry into its ecosystem, Elemental (ELE) has acquired 78,421,780 common shares in La Mancha.
The acquisition represents 31.9% of Elemental's total outstanding shares, for a total purchase price of $1.2 billion per share.
The transaction was traded at 1.55 Canadian dollars (about 1.14 US dollars). The total acquisition price is estimated to be about 89.4 million US dollars. Through this investment, Tether aims to invest in real-world assets such as gold and Bitcoin.
The company announced its intention to incorporate it into its ecosystem and build a more robust digital economy infrastructure as a long-term hedge.
Elemental is a company that pays royalties and stakes based on global gold production, not gold mining.
The company will operate a gold mining 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," he said, explaining that it "will contribute to increasing transparency and stability of digital financial products."
"If Bitcoin is the ultimate hedge against monetary inflation, then gold is historically proven," said Tether CEO Paolo Ardoino.
"This investment is not simply asset management, but building a financial infrastructure for the next generation," he said.
It is expected that this will have the effect of strengthening the reliability and backing of "XAUt Gold". Through this announcement, Tether may launch additional digital asset products based on various raw materials other than gold.
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