Tether has made a strategic investment of $150 million in Gold.com to enhance access to tokenized gold.

The investment aims to incorporate Tether Gold (XAUt), a cryptocurrency backed by gold, into Gold.com’s services.

Gold.com operates as a public online marketplace for gold and other valuable metals such as silver and platinum, catering to numerous markets including the US.

“Gold has played a central role in preserving value for centuries, particularly during periods of monetary stress and geopolitical uncertainty,” said Paolo Ardoino, CEO of Tether. Translation: “Gold has been crucial in maintaining value throughout history, especially during financial crises or political instability.”

Tether is also looking at possibilities to facilitate purchases of physical gold using its stablecoin, USDt (USDT), alongside a new stablecoin tailored for the US market, USAt (USAT).

Gold prices surged over 80% in the past year, hitting $5,600 before settling around $4,800 at the time of this report. Tether’s recent investment follows a $100 million investment in Anchorage Digital to promote the adoption of the USAt stablecoin.