Tether, the company that issues the world's largest stablecoin, USDT, is expanding its business by investing directly in the gold supply chain. With its gold reserves already at a record high of $8.7 billion, the company is in talks to invest in gold mining, refining, and royalty companies.
Tether has already committed tens of millions to the royalty company Elemental Altus and is exploring additional partnerships. CEO Paolo Ardoino referred to gold as "natural bitcoin," highlighting its value as a stable and tangible asset.
While some gold industry executives are skeptical of Tether's unconventional approach, the company is using its substantial profits to move further into commodities and tokenization. Although its gold-backed token, XAU₮, is still relatively small with a market value under $880 million, the company's flagship USDT remains a dominant force with a market capitalization of roughly $168 billion. Tether's push into physical gold represents a significant step in its strategy to bridge traditional resources with digital finance.
September 2025, Cryptoniteuae