TechFlow news, September 5 — According to the Financial Times, Tether is in talks regarding investments in gold mining. The company plans to invest across various stages of the gold supply chain, including mining, refining, trading, and royalty companies.
Currently, Tether holds $8.7 billion worth of gold reserves in a vault in Zurich, Switzerland, serving as collateral for its stablecoin. In June this year, Tether Investments acquired a minority stake in Toronto-listed gold royalty company Elemental Altus for $105 million. Tether CEO Paolo Ardoino previously stated that gold should be a safer asset than any sovereign currency and could serve as a complement to Bitcoin.
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