Tether now holds one of the world’s largest non-governmental gold stockpiles, purchasing up to two tons weekly to back its reserves and gold-backed stablecoin amid surging prices.
Tether, the issuer of the USD₮ stablecoin, announced it has accumulated approximately 140 metric tons of gold valued at $24 billion, making it one of the largest known non-governmental holders. The company has been buying up to two tons of gold weekly, storing the bullion in a secure facility in Switzerland. Most of the holdings back Tether’s reserves, while part supports its gold-backed stablecoin XAUT, currently priced at around $5,260 per token with a $2.7 billion market capitalization. CEO Paolo Ardoino said purchases would continue for months ahead, adding 27 tons in Q4 2025 alone—more than some national governments. Analysts note this buying, along with central bank demand, may be contributing to gold’s 90% year-over-year price surge. The initiative aims to offer transparency in gold ownership compared to “paper gold” ETFs, with tokenized gold providing direct proof of ownership.