Tether — the largest stablecoin issuer in the world (USDT) — is expanding its investment in the gold supply chain as gold reserves reach a record high of 8.7 billion USD held in vaults in Switzerland. The company has invested tens of millions of dollars in the gold mining rights company Elemental Altus and is considering a partnership with Terranova Resources.
CEO Paolo Ardoino called gold the "natural bitcoin", considering it a stable and tangible asset suitable for digital assets. However, the gold mining industry remains skeptical about Tether's approach and long-term strategy. While the gold token XAU₮ has a market capitalization of less than 880 million USD, USDT still maintains its leading position with a market cap of about 168 billion USD. With profits of billions of dollars each year, Tether is strongly transforming into the commodities and decentralized finance sectors.
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Tether expands into gold mining as reserves reach 8.7 billion USD
Tether — the largest stablecoin issuer in the world (USDT) — is expanding its investment in the gold supply chain as gold reserves reach a record high of 8.7 billion USD held in vaults in Switzerland. The company has invested tens of millions of dollars in the gold mining rights company Elemental Altus and is considering a partnership with Terranova Resources.
CEO Paolo Ardoino called gold the "natural bitcoin", considering it a stable and tangible asset suitable for digital assets. However, the gold mining industry remains skeptical about Tether's approach and long-term strategy. While the gold token XAU₮ has a market capitalization of less than 880 million USD, USDT still maintains its leading position with a market cap of about 168 billion USD. With profits of billions of dollars each year, Tether is strongly transforming into the commodities and decentralized finance sectors.