The issuer of the USDT stablecoin, Tether, has become the world's largest private owner of gold reserves. The volume of accumulated precious metal approaches 140 tons, and its estimated value is around $24 billion, said Tether's CEO Paolo Ardoino in an interview with Bloomberg. Every week, the company acquires one to two tons of the most expensive precious metal, Ardoino reported. Over the past year, Tether has added more than 70 tons of gold to its reserves. According to Bloomberg's calculations, this is more than the annual purchases of nearly any central bank, except for the Central Bank of Poland, which increased its gold reserves by 102 tons during the same period. For comparison, all the central banks in the world together purchased just over 200 tons in 2025. Tether stores the entire volume of precious metal in the form of gold bars in Switzerland, in a specially equipped nuclear bunker. The facility is equipped with a multi-level security system, assures the company's head. Paolo Ardoino drew parallels between Tether and state central banks in a conversation with the agency. According to him, Tether is effectively becoming one of the largest 'golden central banks' on the planet, playing an increasingly significant role in the global precious metals market. Ardoino stated that the company plans to launch gold trading, becoming a competitor to large commercial banks. Tether issues its own gold token $XAU , which can be exchanged for bars. According to Ardoino, the volume of issued tokens is equivalent to 16 tons of gold ($2.7 billion). A lower denomination token, Scudo, is also issued. The head of the company hopes that by the end of the year, the market turnover of XAUT will reach $5–10 billion. Recently, Tether announced the release of a stablecoin pegged to the dollar specifically for the American market.

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