Tether is making strides in the gold sector as it seeks to diversify its investment portfolio. According to a report from the Financial Times, the issuer of the popular stablecoin is actively evaluating various investment opportunities within the gold industry, including mining, refining, trading, and royalty companies.
The firm, which oversees the gold-backed stablecoin XAUt, has engaged with several mining and investment groups in pursuit of potential partnerships. Notably, discussions took place with Terranova Resources, a British Virgin Islands-based gold mining entity, although these talks did not culminate in an agreement.
This exploration follows Tether’s recent acquisition of a significant stake in the Toronto-listed gold royalty firm Elemental Altus Royalties Corp., where it invested around $82 million to secure a controlling interest of nearly 38%. This deal was completed in June and involved share purchases from existing shareholders, including La Mancha Investments. As part of the agreement, Tether maintains the option to increase its stake to over 50% in the future.
The company continues to seek further investment opportunities, having engaged in discussions with additional royalty companies and contemplating expanding its stake in Elemental Altus.
Tether’s CEO, Paolo Ardoino, is an outspoken advocate for gold, emphasizing its reliability and safety compared to national currencies. At the Bitcoin 2025 Conference, Ardoino notably referred to gold as “natural Bitcoin,” suggesting a symbiotic relationship between the two assets. He remarked that while many in the cryptocurrency community see Bitcoin as “digital gold,” his perspective leans towards recognizing gold as “Bitcoin in nature.”
Currently, Tether has secured approximately $8.7 billion in gold bars stored in a vault located in Zurich, providing collateral for one of its stablecoin offerings. In addition to its gold ventures, the company also issues USDT, which is the largest dollar-pegged stablecoin, boasting a market capitalization of about $168 billion, according to data from CoinGecko.
In its recent financial report, Tether announced a net profit of $4.9 billion for the second quarter of the year, attributing much of its success to favorable movements in both Bitcoin and gold. With gold prices witnessing a rise—from $3,300 in April to exceeding $3,500 recently—Tether’s foray into the gold market appears strategically timed to capitalize on ongoing trends in commodity investments.
