According to its CEO Paolo Ardoino, Tether holds nearly 80 tons of gold, worth approximately $8 billion. The precious metal is reportedly stored in a secret vault in Switzerland, owned by the company.
Tether is one of the world’s largest private gold holders
While Tether is best known for its USDT stablecoin, the company is diversifying its investments across various sectors to increase its revenue streams. Earlier today, we reviewed these investments and found that they sometimes extend beyond the cryptocurrency sector.
In an interview with Bloomberg, Paolo Ardoino, CEO of Tether, also reported that the company holds nearly 80 tons of gold, currently valued at $8 billion:
We have our own vault. I think it’s the most secure vault in the world.
Outside of governments and central banks, this makes Tether one of the largest holders of gold in the world, with a quantity similar to that held by Australia. By comparison, this is also roughly equivalent to the total amount of precious metals held by UBS, which reported $7.62 billion at the end of the first quarter of this year.
For obvious security reasons, Paolo Ardoino did not reveal the date on which the vault was opened or its exact location, but did specify that it was in Switzerland.
In its latest transparency report on the collateralization of its stablecoins, Tether stated that it held approximately $6.66 billion in precious metals:
In this case, the report reflects the situation as of March 31, 2025, and since then, the price of gold has risen by 5.43%. Assuming that the “Precious Metals” line consists exclusively of gold, it would now be valued at $7 billion, suggesting that Tether has since increased its reserves.
It should also be noted that this amount far exceeds the amount required to collateralize its gold-backed stablecoin XAUT, which is only capitalized at $812.28 billion.
While Paolo Ardoino believes that “gold should logically be a safer asset than any national currency,” he explains that Tether’s desire to hold its own vault, rather than delegating custody, is based on cost considerations:
Paying 50 basis points [0.5% fee, ed.] is a considerable amount. If you own your own vault, given its size, storage becomes much less expensive.
Last April, gold reached an all-time high of nearly $3,500 per ounce (28.3495 grams). At the time of writing, it is trading at $3,290.
