Gold supply issues are putting pressure on a stablecoin tied to the precious metal
March 25, 2020, 4:26PM EDT · 2 min read
- 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.