Tether, the company behind the world's largest stablecoin, expanded its gold reserves by roughly 27 tonnes in the fourth quarter of 2025 through its Tether Gold Investments arm. The acquisition brings its total gold holdings to 520,089.35 fine troy ounces, lifting Tether into the ranks of the world's top 30 largest gold holders. Data from the IMF and Jefferies shows Tether now holds more gold than countries like Greece, Qatar, and Australia.
Gold-Backed Stablecoin Market Surges
In 2025, the market for gold-backed stablecoins swelled from a total market cap of about $1.3 billion to over $4 billion. Record gold prices, rising geopolitical tensions, and growing demand from both institutional and crypto-native investors for safe-haven assets fueled the boom. Tether Gold (XAU₮) commands roughly 60% of the total gold stablecoin supply, with its market cap exceeding $4 billion — cementing its dominance in the sector.
Q4 Gold Hoard Pushes Tether Above Sovereign Holders
Tether Gold Investments added approximately 27 tonnes of gold in Q4 2025, lifting its total reserves to 520,089.35 ounces. That positions Tether ahead of central banks of Greece, Qatar, and Australia in the global gold holder ranking, according to IMF and Jefferies reports. Tether CEO Paolo Ardoino said, “With Tether Gold, we’ve reached a scale comparable to national gold holders. Each XAU₮ token represents physical gold stored in vaults and verifiable on-chain, giving investors a reliable and secure asset.”
1:1 Backing and Swiss Vault Storage
Tether reiterated that XAU₮ remains fully backed by physical gold at a 1:1 ratio, with daily transparency updates. The gold is stored in Switzerland and meets the London Good Delivery standard of the London Bullion Market Association (LBMA). The tokenized gold product offers liquidity, portability, and transparency — a direct alternative to holding physical gold for digital investors.