Tether has accumulated approximately 140 tons of physical gold, valued at roughly $23 billion, placing the issuer among the largest holders of non-sovereign gold bullion. This acquisition has accelerated growth in the gold-backed stablecoin sector.
Tether’s gold accumulation accelerated throughout 2025 and continued this trend into 2026, allowing the company to purchase an estimated 2 tons of gold weekly. This resulted in its acquisition of over 70 tons during 2025, 27 tons of which were acquired in the fourth quarter alone.
It now ranks among the 30 largest gold holders globally and surpasses the official reserves of several countries.
Tether stores a portion of its gold bars in high-security Swiss facilities and has begun to restructure its operations to streamline intermediation processes, thereby lowering operating costs and improving returns.
Tether Gold and the dominance of tokenized gold
Within the tokenized gold markets, Tether Gold (XAUT) has become the dominant product. The gold-backed stablecoin market reached a peak of $4 billion during 2025 thanks to the gold rally and buying pressure from Tether.
At the close of the fourth quarter of 2025, XAUT’s market capitalization was reported at $2.25 billion, with 409,217.64 XAU₮ tokens sold. On January 28, XAUT saw a 3.99% increase in 24 hours, bringing its weekly and monthly gains to 8.88% and 18.06%, respectively.
Undoubtedly, the key factor in Tether’s growth is its backing by a tangible asset, which provides a stronger narrative regarding compliance and custody.
Investors, product teams, and compliance officers will be watching the company’s stated goals throughout 2026. Some analysts project that XAUT’s market capitalization could reach over $5 billion by the end of 2026.
