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 negotiated with several counterparties, including Terranova Resources, but these negotiations have been unsuccessful. The company has not yet commented on the situation regarding the failed agreements.
This is reported by Finway
Tether’s Investment Strategy in Gold
It is known that Tether intends to invest across the entire production chain—from ore extraction to financing companies specializing in acquiring deposits and marketing gold, receiving royalties in return. On September 4, the company made a significant investment of $100 million in Elemental Altus, which focuses on financing participants in the precious metals market. Elemental Altus has also merged with EMX, creating a new structure focused on gold and royalties.
Previous Investments and Market Impact
Previously, Tether had already 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 simply likes gold.”
Despite the skepticism of some market participants regarding Tether’s new strategy, the company continues to actively develop gold-related initiatives and increase its presence in this sector.