According to CoinMeta, Tether has become the main precious metals financier for the American gold trader Goldcom. As of the end of June, approximately $1.7 billion of Goldcom's outstanding precious metals leases came from Tether. The total payments and prepayments owed by Goldcom to Tether amounted to about $1.45 billion. Tether acquired a 13% stake in Goldcom for $150 million earlier this year and reached a agreement with them for the purchase, sale, and custody of precious metals. In June, Tether held about 146 tons of gold, valued at around $20 billion at current prices, and is attempting to generate revenue from this gold through leasing and other methods. A gold leasing arrangement worth $100 million signed by both parties in February had an annual interest rate of 1.75%, which is lower than Goldcom's bank credit cost of about 6% at that time.