Tether holds approximately 140 tons of gold, worth about 23 billion dollars

According to Bloomberg, stablecoin issuer Tether Holdings SA has become one of the largest participants in the global gold market, holding approximately 140 tons of gold valued at around $23 billion, believed to be the largest known physical gold holder outside of banks and nations.

Tether CEO Paolo Ardoino revealed that the company is continuously purchasing gold at a rate of 1 to 2 tons per week, aiming to establish a long-term, stable physical gold reserve in a former Swiss nuclear bunker. He emphasized that this move is akin to playing the role of "one of the world's largest gold central banks," and predicted that geopolitical rivals would launch dollar alternatives pegged to gold, for which Tether has prepared its gold token XAUT.

In 2025, Tether purchased over 70 tons of gold, surpassing nearly all single central banks except for the Polish central bank, and exceeding many large gold ETFs. In addition to direct holdings, Tether has also hired a former senior gold trader from HSBC, planning to establish a gold trading platform and compete with banks like JPMorgan. The company is also acquiring stakes in several mid-sized Canadian gold mining royalty companies.

Previously, it was reported that Tether increased its gold reserves by approximately 27 tons in the fourth quarter of 2025.