Lucía Peña
Tether, the world’s largest stablecoin issuer, may soon ramp up its exposure to gold markets, according to a report published by the Financial Times. Sources familiar with the matter revealed that the company has discussed investing across the entire gold supply chain — including mining, refining, trading, and royalty firms.
Tether CEO Paolo Ardoino appeared to validate the report when he replied to a post about the story on X with the phrase: “Stability maximalism.”
Backed by the success of its flagship USDT stablecoin, Tether has generated billions of dollars in profit, giving it the flexibility to branch into new industries. The firm already maintains a substantial gold reserve, with nearly 250,000 Tether Gold (XAU₮) tokens in circulation as of July — each backed by over 7.66 tons of physical gold stored in Swiss vaults.
Additionally, Tether acquired a 33% stake in Elemental Altus Royalties Corp., a Canadian precious metals royalty company, marking a major step in diversifying its gold-related exposure.
Market Reaction: Surprise in the Gold Industry
The news of Tether’s potential expansion into gold has reportedly left traditional mining executives surprised.
“They like gold. I don’t think they have a strategy,” one mining industry leader told the FT.
Another commodities executive added: “It is the weirdest company I have ever dealt with.”
Despite skepticism, the timing could be favorable — the spot price of gold reached a record $3,650 per ounce on Friday, underscoring the asset’s appeal as a hedge in volatile markets.
