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Tether acquired a 32% stake in Elemental Altus Royalties for approximately $89.4 million.
Circle’s USDC stablecoin is now live on the XRP Ledger mainnet, expanding network liquidity.
Hong Kong Customs partners with a university to create a crypto tracking tool for money laundering.
The cryptocurrency market has witnessed significant developments of late, including Tether purchasing a major stake in a Canadian gold royalty company, the USDC stablecoin created by Circle becoming available on the XRP Ledger, and Hong Kong regulators speeding up the process of combating crypto-related money laundering. All of these developments represent increasing overlaps between conventional finance, blockchain-based assets, and global regulatory scrutiny.
Tether, the issuer of the world’s largest stablecoin USDT, took a strategic step by acquiring a 32% stake in Elemental Altus Royalties, a publicly listed Canadian gold royalty company. The transaction, valued at about $89.4 million, involved the purchase of 78,421,780 common shares from La Mancha Investments at a price of CA$1.55 per share. Tether confirmed the investment aligns with its approach to integrate “long-term, stable assets such as gold and Bitcoin” to enhance stability and transparency within its ecosystem.
Tether CEO Paolo Ardoino stated that this move supports the firm’s “forward-looking strategy to build a more resilient and transparent financial system.” By investing in a gold royalty and streaming company rather than directly in mining operations, Tether seeks low-risk exposure to global gold production.
The deal allows Tether to diversify its portfolio and further backs its gold-pegged stablecoin, XAUt. CoinGecko data shows XAUt has grown to become the largest gold-backed stablecoin, with a market cap reaching $854 million in April.
Tether’s aggressive investment approach follows a year of record profits and growing moves beyond its core stablecoin business. The most recent notable investments have included significant allocations to Bitcoin, as well as equity investments in media and fintech firms.
Circle’s USDC, the world’s second-largest stablecoin, is now available on the XRP Ledger (XRPL) mainnet, broadening its reach in the digital payments space. The launch comes just one week after Circle’s successful initial public offering, where its shares surged nearly 200% from the IPO price. Circle’s institutional platform, Circle Mint, and its developer-focused API now support USDC on XRPL, increasing liquidity and stablecoin options for network users.
The XRP Ledger, which has been consistently associated with cross-border payments provider Ripple, is also set to enhance its functionality with the launch of an Ethereum Virtual Machine (EVM) sidechain in the second quarter of 2025. At press time, XRP is ranked fourth on the list of the largest cryptocurrencies by market capitalization, with a value of $2.24 and a 24-hour trading volume of $2.2 billion.
USDC has grown to represent approximately 25% of the world's entire stablecoin supply, with Tether (USDT) at around 65%. These actions underscore the growing importance of stablecoins in digital payments and institutional finance.
Also Read: Bitcoin’s Big Bet: Will Strategy’s Moves Backfire Long-Term?
The University of Hong Kong is collaborating with the Hong Kong Customs and Excise Department to create a new digital cryptocurrency tracking tool to monitor cryptocurrency transactions associated with potential money laundering activities.
The initiative will combat more sophisticated and transnational financial crimes that use digital assets. Assistant Commissioner Mario Wong Ho-yin pointed out the importance of a wide range of cooperation in academic, finance, and law enforcement to combat these kinds of threats.
Hong Kong authorities examined 39 major money laundering cases between 2021 and May 2025, of which seven involved cryptocurrencies and large amounts of suspicious transactions. Recently, three people were charged with transforming more than $229 million using crypto-related services. The new tracking program is one step ahead of the regional collaboration, where workshops attract representatives of multiple countries to enhance anti-money laundering approaches to the digital asset space.
