Tether eyes Gold mining investments as reserves climb to $8.7 billion

Tether is expanding beyond stablecoins by investing in the Gold supply chain, as its Gold holdings soar to record levels.

Tether, the company behind the world’s largest stablecoin USDT, is strengthening its ties to gold. With reserves now reaching $8.7 billion stored in a Swiss vault, the firm is in talks to invest directly in gold mining, refining, and royalty businesses.

The company has already committed tens of millions to royalty group Elemental Altus and is exploring further deals, including potential partnerships with Terranova Resources. CEO Paolo Ardoino has described gold as “natural bitcoin,” seeing it as a stable and tangible counterpart to digital assets.

Not everyone in the industry is convinced. Some gold executives remain skeptical of Tether’s approach, calling the company unusual and questioning its long-term strategy. Still, Tether continues to use its large profits to push deeper into commodities and tokenization.

Its gold-backed token, XAU₮, has a relatively small market value of under $880 million, but the firm’s flagship USDT remains dominant with a market capitalization of about $168 billion. With billions in annual profit, Tether’s push into physical gold marks a bold step in blending traditional resources with digital finance.