Headline: Tethers Gold Reserves Rival Central Banks of South Korea, Greece, and Hungary Translation: Tethers Gold Reserves Rival Central Banks of South Korea, Greece, and Hungary

By the end of September, the reserves of the company Tether had reached 116 tons of gold. This amount is comparable to the reserves held by South Korea, Hungary, or Greece, as reported by Fortune, citing analysts from the investment bank Jefferies.

Experts have identified the issuer of the USDT stablecoin as the largest holder of the precious metal outside of the public sector.

Analysts noted that the company’s aggressive purchases may have had a direct impact on the recent increase in the market value of gold. In the past quarter, Tether accounted for nearly 2% of global demand, which is equivalent to 12% of the total purchases made by all central banks.

According to Jefferies, the issuer plans to acquire an additional 100 tons of physical gold in 2025. The company’s financial metrics support this plan, with projected profits for this year aiming to reach $15 billion.

Experts believe that the company is banking on the widespread adoption of tokenized gold. Since the beginning of August, Tether has added over 275,000 ounces of gold worth approximately $1.1 billion to the collateral for its gold-backed stablecoin, XAUT.

Unlike ETFs or physical ownership, tokenized gold offers around-the-clock trading and no storage fees. Jefferies analysts think that Tether’s CEO, Paolo Ardoino, views this asset as a «natural Bitcoin» and a means of diversifying reserves amid risks associated with the US dollar.

It’s worth noting that by the end of the first nine months of 2025, Tether International’s net profit exceeded $10 billion.