Tether, the issuer of the USDT stablecoin, plans to expand its presence in the gold mining sector through new investments. According to industry sources, Tether has already held negotiations with several counterparties, including Terranova Resources, but these negotiations were unsuccessful. The company has not yet commented on the situation regarding the failed agreements.
This is reported by Finway
Tether’s Gold Investment Strategy
It is known that Tether intends to invest throughout the entire production cycle—from ore extraction to financing companies that specialize in acquiring deposits and selling gold, earning royalties. On September 4, the company made a significant investment of $100 million in Elemental Altus, which finances participants in the precious metals market. Elemental Altus has also merged with EMX, which will create a new structure focused on gold and royalties.
Previous Investments and Market Impact
Previously, Tether invested $89 million in Elemental Altus, gaining the ability to finance gold mining projects in exchange for royalties and favorable terms for purchasing the precious metal. The company also controls significant physical gold reserves, which serve as collateral for the XAUT stablecoin.
One source told the publication that the company “hardly has a strategy” and that “it just likes gold.”
Despite some market participants’ skepticism regarding Tether’s new strategy, the company continues to actively develop gold-related initiatives and increase its presence in this industry.