Tether, known for its USDt stablecoin, is in discussions to invest in various sectors of the gold supply chain, including mining, refining, and trading, according to a Financial Times report. This initiative is aimed at diversifying Tether's portfolio, which currently includes $8.7 billion in physical gold stored in Zurich, Switzerland. The stablecoin issuer also offers a gold-backed cryptocurrency, Tether Gold, with a market cap of about $1.4 billion. Tether's asset base includes around $162 billion, with a significant portion in cash and US Treasury bonds. In 2025, Tether reported a net profit of $5.7 billion in the first half. The price of gold has surged by 36.5% this year, reaching approximately $3,600 an ounce. Recently, Tether increased its stake in Canadian gold royalty company Elemental by purchasing shares for $100 million, already holding a 37.8% ownership. This strategy indicates Tether's broader interest in commodities, building on past efforts in the oil market in 2024.

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