Tether's gold reserves surpass $23 billion! Holdings reach 148 tons, ranking among the top 30 largest holders worldwide.
Wall Street investment bank Jefferies pointed out that the world’s largest stablecoin issuer, Tether, continues to make large purchases of physical gold. As of the end of January 2026, its gold reserves have reached 148 tons, with a market value of approximately $23 billion. This scale not only surpasses many sovereign countries but also ranks among the top 30 largest gold holders globally. Tether’s gold buying speed even exceeds most central banks, second only to Poland and Brazil, making it one of the most active non-sovereign gold buyers worldwide.
Tether’s gold acquisition rate is astonishing: holdings surpassing those of the UAE, Qatar, and South Korea
According to Jefferies’ estimates, Tether increased its gold holdings by about 26 tons in Q4 2025. In January 2026, it bought an additional approximately 6 tons, bringing the total holdings to 148 tons (about $23 billion).
Currently, its holdings exceed those of Australia, the UAE, Qatar, South Korea, Greece, and others. Since Tether is a private company, reports indicate that these figures are only the minimum estimates; actual holdings may be higher, and some gold may not be fully disclosed in public reports.
Uses of gold: Supporting USDT and gold token XAUT
Tether’s gold mainly serves as part of the reserve assets backing the US dollar stablecoin USDT, as well as the physical collateral for the Tether Gold (XAUT) token. As of January 2026, the circulation of XAUT increased to 712,000 units, corresponding to a gold value of about $3.2 billion (an increase of approximately 6 tons).
CEO Paolo Ardoino stated that the demand for XAUT mainly comes from retail investors in emerging markets, indicating that the market’s interest in asset-backed digital assets is heating up.
Macroeconomic background: Gold hits new highs, de-dollarization demand accelerates
Tether’s gold purchasing actions coincide with a strong trend in the global gold market. Gold prices recently broke through $5,000 per ounce, rising nearly 50% since September 2025. Factors driving this include:
- Continuous gold accumulation by central banks worldwide
- Rising long-term government bond yields
- Reduced reliance on USD assets (de-dollarization trend)
Jefferies pointed out that Tether’s asset allocation strategy is highly consistent with the reserve trends of global official sectors. Ardoino revealed that the company will formally allocate 10%–15% of its investment portfolio to physical gold in the future. Currently, Tether’s investment portfolio is about $20 billion, indicating there is still room for further increases.
This article, “Tether’s Gold Reserves Surpass $23 Billion! Holdings Reach 148 Tons, Entering the Top 30 Largest Holders Globally,” first appeared on Chain News ABMedia.