Tether, the company behind the USDT stablecoin, is expanding its involvement in the gold market. The company is reportedly in discussions with various mining and investment groups about ventures in gold extraction, refining, trading, and royalty finance.
This move is part of a broader strategy to increase its “gold exposure,” which Tether CEO Paolo Ardoino sees as a foundational asset and a complement to Bitcoin.
Tether has already made significant gold-related investments, including acquiring a more than $200 million stake in the gold royalty firm Elemental Altus. The company also operates XAUt, a token backed by physical gold, although its market capitalization is significantly smaller than that of USDT.
This expansion into commodities comes as the digital asset space increasingly intersects with traditional finance, and as the stablecoin market is projected to see massive growth, with new regulations like the GENIUS Act providing a framework for these assets.
Despite branching into gold, Tether’s dominance in the stablecoin market remains strong. In August, its USDT stablecoin reached a record high of $1.32 trillion in transfer volume, demonstrating its role as a key source of liquidity in the global crypto market.
With a circulating supply of over $170 billion, Tether’s USDT commands a 59.2% market share, solidifying its position as the most influential token in the stablecoin sector.
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