Tether Bought 26 Tonnes of Gold in Q3 2025 - Reserves Now Rival Central Banks

In the third quarter of 2025, Tether acquired 26 tonnes of gold, bringing its reserves to a level comparable to some central banks. For instance, Cyprus holds 13 tonnes of gold, Turkey 6.52 tonnes, Colombia 4.6 tonnes, Ukraine 27.37 tonnes, Nigeria 21 tonnes, Iceland 1.98 tonnes, Lithuania 5.82 tonnes, Latvia 6.66 tonnes, North Macedonia 6.89 tonnes, and Malta 0.34 tonnes.

According to analyses by the investment bank Jefferies, Tether acquired 26 tonnes of gold in Q3—more than any central bank during the same period.

At the end of September, the USDT issuer held around 116 tonnes of gold in total. If it were a central bank, Tether’s gold reserves would rank among the top 30 in the world, ahead of Greece, Qatar, and Australia.

More Than a Reserve Asset at Tether (USDT)

Tether’s reported gold reserves include assets underpinning its tokenized gold product, XAUT. But with a market capitalization of around $1.6 billion, XAUT accounts for less than 12 tonnes of bullion. 

Precious metals also make up around 7% of the firm’s stablecoin reserves. 

Subtracting USDT and XAUT reserves, Tether is still sitting on a hefty stockpile itself.

Recent investments highlight CEO Paolo Ardoino’s declared fondness for the asset class. In September, he mentioned that “as the world becomes increasingly uncertain, Tether will keep channeling a portion of its profits into secure assets such as Bitcoin, Gold, and Land.”

In addition to investing in physical metal, the company has allocated funds to mining royalties, reportedly investing $100 million in Elemental Altus.

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