Tether is reportedly seeking capital to support a new tokenized gold reserve, according to Bloomberg. The stablecoin issuer aims to expand its offerings by backing digital tokens with physical gold reserves. This move is part of Tether's strategy to diversify its asset-backed tokens beyond its existing USDT stablecoin, which is pegged to the US dollar. The initiative reflects a growing trend in the cryptocurrency industry to create digital assets backed by tangible commodities. Tether's pursuit of capital for this project indicates its commitment to providing alternative investment options in the digital asset space.