Tether, the issuer of the USDT stablecoin, is diversifying its reserves through gold holdings and is in talks for further investments in gold mining, refining, and trading.
According to an independent financial audit, Tether holds gold bars stored in a Swiss vault valued at $8.7 billion. Part of these reserves are used to back the Tether Gold (XAUT) stablecoin.
In addition, the company invested over $100 million in Canadian firm Elemental Altus Royalties, which manages royalties from gold and other precious metal mining. Tether’s investment secured about 32% of the company’s shares, granting access to revenue from mining operations without the operational risks associated with running gold extraction projects.
Since the beginning of 2025, Tether’s net profit amounted to roughly $5.7 billion. According to Paolo Ardoino, Tether’s CEO, a significant portion of these earnings is being allocated into sustainable assets. Alongside gold, the company also invests in Bitcoin and land.
Tether’s increased interest in gold is linked to its current performance. In 2025, the price of gold rose by nearly 38% per ounce as of September 8, according to APMEX data. By contrast, BTC grew only 16% in the same period, CoinGecko reported .
Still, the traditional gold mining sector expressed some skepticism about Tether’s strategy. One industry executive described Tether as “the weirdest company I have ever dealt with,” while another commented, “They like gold. I don’t think they have a strategy.”
Late last year, Tether announced plans to channel part of its profits into the commodities market, offering USDT loans to finance international shipments of oil and precious metals.
