Tether Expands Gold Strategy by Adding to Stake in Canadian Firm

Stablecoin issuer Tether Holdings SA is expanding its gold strategy by adding to its stake in a Canadian gold royalty company.

Tether plans to buy approximately $100 million in additional shares of Elemental Altus Royalties Corp., a firm that specializes in buying revenue streams from mining companies, according to a statement. Tether had already amassed a 37.8% stake earlier this year, a filing in June showed.