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Tether Invests $100 Million More in Canadian Firm Elemental Altus

The stablecoin issuer has expanded its investment, boosting its ownership stake in Elemental Altus to approximately 37.8%.

USDT

Summary

Tether announced an additional $100 million investment in Canadian gold royalty company Elemental Altus, raising its total ownership to about 37.8%. The move underscores the stablecoin issuer’s continued diversification into traditional resource-based assets.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency pegged to a stable asset, such as the US dollar, to minimize volatility.
  • Equity Stake: The ownership interest held by a shareholder in a company, represented as a percentage of total shares.
  • Gold Royalty Company: A business that provides financing to mining firms in exchange for a percentage of revenue or production from gold projects.