Tether Bolsters Financial Infrastructure with Major Investments in Digital Banking and Gold
Tether, the issuer of the world's largest stablecoin USDT, has significantly expanded its strategic investments, injecting $100 million into U.S.-regulated crypto bank Anchorage Digital and acquiring a $150 million stake in Gold.com. These moves underscore Tether's commitment to strengthening its position in regulated financial markets and diversifying its asset backing with substantial gold holdings.
Key Takeaways
- Tether invested $100 million in Anchorage Digital, a federally regulated U.S. crypto bank, valuing the institution at $4.2 billion.
- The company acquired a 12% stake in Gold.com for $150 million, aiming to enhance the distribution of its gold-backed token, XAUT.
- Tether's gold reserves have surged to approximately $23 billion, positioning it among the top global gold owners.
Strategic Investment in Digital Banking
Tether's $100 million investment in Anchorage Digital marks a significant step towards solidifying its presence within the U.S. stablecoin infrastructure. Anchorage Digital, holding a national banking charter, offers a suite of services including custody, staking, and settlement for institutional clients. This investment deepens an existing relationship, as Anchorage already serves as the banking partner for Tether's U.S.-focused stablecoin, USAT. This move aligns with the evolving regulatory landscape in the U.S. for stablecoins, particularly following the enactment of the GENIUS Act.
Paolo Ardoino, CEO of Tether, stated, "Our investment in Anchorage Digital reflects a shared belief in the importance of secure, transparent, and resilient financial systems." This partnership is expected to bolster Tether's reach into the U.S. market, complementing its traditional focus on offshore users and emerging economies.
Expanding Gold Market Presence
In parallel, Tether has acquired a $150 million minority stake, representing 12%, in Gold.com, a platform facilitating access to both physical and tokenized gold. This strategic acquisition is designed to boost the distribution of Tether's gold-backed token, XAUT. The collaboration will also explore enabling purchases of physical gold using Tether's USD stablecoin (USDT) and its U.S.-regulated stablecoin (USAT).
This move into the gold market comes as gold prices have seen a significant rally, attracting investors seeking stability. Tether's XAUT token already holds over 60% of the tokenized gold market, backed by physical gold reserves. Ardoino emphasized gold's role as a hedge and a long-term allocation, stating, "Gold exposure is not a trade for Tether. It is a hedge and a long-term allocation to protect our user base and ourselves in a world that is becoming increasingly unstable."
Growing Gold Reserves
Recent reports indicate that Tether's gold holdings have surpassed $23 billion, amounting to approximately 148 tonnes as of January 31. This substantial accumulation has placed Tether among the top 30 global owners of gold, outranking several sovereign nations. Jefferies analysts noted that Tether's quarterly gold purchases have exceeded those of most individual central banks.
These reserves back both USDT and XAUT. The company has indicated plans to allocate 10%-15% of its investment portfolio to physical gold, formalizing a strategy that has been in motion for several years. This aggressive gold accumulation strategy is occurring amidst a record-breaking rally in gold prices, driven by factors such as central bank demand and a desire among some investors to reduce reliance on the U.S. dollar.
