Tether bought 27 metric tons of gold during the final three months of 2025, the stablecoin giant announced Monday, maintaining a buying pace that rivals sovereign nations.
The company behind USDT now controls 116 tons of the precious metal. That volume would rank among the top 30 national holders globally, surpassing the reserves of Greece, Qatar, and Australia.
“We are operating at a scale that now places the Tether Gold Investment Fund alongside sovereign gold holders, and that carries real responsibility,” CEO Paolo Ardoino said in the company’s statement.
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The holdings support two crypto products: USDT, a dollar-pegged token with $187 billion outstanding, and XAUT, which tokenizes physical gold and has reached $2.7 billion in value. Precious metals account for roughly 7% of Tether’s backing.
Analysis from Jefferies showed Tether bought 26 tons in the third quarter — outpacing every central bank that disclosed purchases. The quarterly volume equals about 2% of worldwide gold demand.
Gold climbed 64% through 2025 before adding 18% more in January 2026, crossing $5,200 per ounce Tuesday. Tether’s stockpile now carries a market value near $4.4 billion.
The company generates profits by holding US Treasury bills to back USDT, then deploys earnings into hard assets — a different model from central banks purchasing gold for monetary policy.
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