Gold supply issues are putting pressure on a stablecoin tied to the precious metal

Quick Take

  • As gold enjoys a historic rally, companies and traders are reporting issues sourcing the precious metal
  • That has put pressure on Tether, which operates a gold stablecoin, to find new sources of gold
  • Paxos, meanwhile, is reporting record interest in its PAX Gold product.
Traders are having trouble sourcing gold amidst coronavirus lockdown, and that's impacting Tether's gold-backed stablecoin.

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