Tether to invest in gold mining, holding $8.7B in gold reserves
Tether, the issuer of the world’s largest stablecoin, is in talks to expand into the gold sector, according to the Financial Times.
The company is considering investments across the gold supply chain, including mining, refining, trading, and royalty companies.
Currently, Tether backs part of its stablecoin reserves with $8.7 billion worth of gold stored in a vault in Zurich, Switzerland. The move highlights its strategy of diversifying assets beyond traditional financial instruments.
In June, Tether Investments acquired a minority stake worth $105 million in Elemental Altus, a Toronto-listed gold royalty company. The deal marked one of its first major steps into the precious metals industry.
CEO Paolo Ardoino has previously argued that gold offers a safer store of value than any sovereign currency, positioning it as a natural complement to Bitcoin in Tether’s reserve strategy.
Currently, Tether backs part of its stablecoin reserves with $8.7 billion worth of gold stored in a vault in Zurich, Switzerland. The move highlights its strategy of diversifying assets beyond traditional financial instruments.
In June, Tether Investments acquired a minority stake worth $105 million in Elemental Altus, a Toronto-listed gold royalty company. The deal marked one of its first major steps into the precious metals industry.
CEO Paolo Ardoino has previously argued that gold offers a safer store of value than any sovereign currency, positioning it as a natural complement to Bitcoin in Tether’s reserve strategy.
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