Tether In Talks To Enter Gold Industry
According to a report by the Financial Times, USDT and XAUt issuer Tether is in talks to enter the gold industry. According to the report, the company aims to initiate gold mining, refining, trading, and even royalties. The move aligns with Tether’s aim of expanding its gold initiatives. The company holds about $8.7 billion worth of gold in a Zurich vault. Tether also bought a $105 million stake in Elemental Altus. Elemental Altus is a Toronto stock exchange-listed gold royalty company. Tether Going Big On Gold? Source: Binance Tether CEO Paolo Ardoino is an active supporter of the yellow metal. He has reiterated his confidence in gold’s underlying fundamentals, portraying it as a safer and more reliable store of value than sovereign currencies. At the Bitcoin 2025 Conference, Ardoino called gold “natural Bitcoin,” and called Bitcoin “digital gold.” Tether already has a stablecoin pegged to the shiny commodity, XAUt. XAUt was launched in January 2020, more ...