Tether Explores Investment Opportunities in Gold Mining Sector

According to PANews, Tether is in discussions to invest in the gold mining industry, aiming to engage in various segments of the gold supply chain, including mining, refining, trading, and royalty companies. Sources familiar with the matter indicate that Tether has been negotiating with several companies that invest in gold mining royalties, which involve investing in mines in exchange for a percentage of future revenue. Tether is considering further royalty deals, including continued investment in Elemental Altus. Previously, Tether held talks with Terranova Resources, a gold mining investment firm based in the British Virgin Islands, but no agreement was reached. In addition, Tether operates the cryptocurrency token XAUt, backed by physical gold, with a market capitalization of $880 million. Industry insiders reveal that Tether plays a significant role in commodity trade financing, providing short-term financing for raw material shipments, with its trading book reaching billions of dollars. Currently, Tether holds $8.7 billion worth of gold reserves in vaults in Zurich, Switzerland, as collateral for its stablecoin. In June of this year, Tether Investments spent $105 million to acquire a minority stake in Elemental Altus, a Toronto-listed gold royalty company.