Tether Explores Gold Mining Investments Amid Rising Precious Metal Prices

Tether, the issuer of the world's largest stablecoin USDT, has held discussions with Gold mining groups about potential investments in the gold supply chain. The talks covered refining, trading, and royalties, according to a Financial Times report. CEO Paolo Ardoino recently described gold as "bitcoin in nature," highlighting its appeal to crypto-native investors.

The company already holds $8.7 billion in gold bars stored in Zurich and acquired an $89.2 million minority stake in precious-metals firm Elemental Altus in June. Tether also offers XAUT, a gold-backed stablecoin pegged to the value of one troy ounce of physical gold.

Gold prices surged to a record $3,550 per ounce this week, nearly doubling over two years. The metal's haven status during geopolitical turmoil mirrors bitcoin's investment thesis, creating natural synergies for crypto-focused firms like Tether.