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PANews reported on January 28th that, according to Bloomberg, stablecoin issuer Tether Holdings SA has become one of the largest players in the global gold marketPANews reported on January 28th that, according to Bloomberg, stablecoin issuer Tether Holdings SA has become one of the largest players in the global gold market

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

Author: PANews

Source: PANews

2026/01/28 09:13

News Brief

Bloomberg reports that stablecoin issuer Tether has quietly emerged as a major player in the global gold market. The company now holds approximately 140 tons valued at roughly $23 billion, positioning it as likely the largest known physical gold holder outside of governments and traditional banks. According to CEO Paolo Ardoino, they're purchasing 1 to 2 tons weekly, storing it in a repurposed Swiss nuclear bunker to establish what they believe is an unshakeable long-term reserve.Ardoino frames Tether as functioning like "one of the world's largest gold central banks." Furthermore, he anticipates geopolitical rivals will launch gold-backed currencies to challenge the dollar—which is precisely why Tether already offers its gold token, XAUT. By 2025, they had accumulated over 70 tons, surpassing nearly every individual central bank except Poland's and outpacing many prominent gold ETFs. Beyond merely stockpiling gold, Tether brought aboard a former HSBC senior gold trader. Additionally, the company plans to launch a trading platform aimed at competing with giants like JPMorgan, while also investing in several mid-sized Canadian gold mining operations.

PANews reported on January 28th that, according to Bloomberg, stablecoin issuer Tether Holdings SA has become one of the largest players in the global gold market, holding approximately 140 tons of gold, worth about $23 billion. It is believed to be the largest known holder of physical gold 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 acting as "one of the world's largest gold central banks," and predicted that geopolitical rivals will launch gold-pegged alternative currencies to the US dollar, for which Tether has already prepared its gold token, XAUT.

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

According to previous reports, Tether increased its gold reserves by approximately 27 tons in the fourth quarter of 2025 .

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