The stablecoin issuer’s gold reserves reached 116 tons. Investment bank Jefferies estimates that in the third quarter alone Tether added approximately 26 tons of precious metal to its balance sheet, representing approximately 2% of global demand. About 12 tons of this amount are held in XAUt stablecoin reserves, while approximately 104 tons are held in USDT reserves.
Along with building up its reserves, the company has increased its presence in the gold market through investments in royalty firms. According to a Jefferies report, more than $300 million has been allocated for these purposes this year. Furthermore, Tether secured mining concessions and hired new staff from HSBC’s metals division.
Analysts say these deals confirm that the stablecoin issuer is expanding its presence in gold-related assets.
According to Jefferies forecasts, Tether The bank could retain a significant share of gold in its assets as the supply of USDT grows. CEO Paolo Ardoino projects profits of $15 billion by 2025. The bank calculates that by allocating half of this amount to bullion, it could acquire nearly 60 additional tons annually.