Why Tether Is Buying More Gold Than Many Central Banks And What It...

Tether’s rapid gold accumulation in Q3 2025 surpassed many national banks. This move reflects Tether’s strategy to build gold reserves.

Tether purchased 26 tons of gold in Q3 2025, a larger quarterly acquisition than any reporting central bank. Its total holdings reached 116 tons, placing it among the world’s top 30 gold holders.

Stablecoin issuers, sovereign wealth funds, corporations and tech firms are increasingly active in gold markets. This trend marks a structural shift in global demand once dominated by central banks.

Central banks added 220 tons of gold in Q3 2025, up 28% from Q2. Countries such as Kazakhstan, Brazil, Turkey and Guatemala made notable additions despite record prices.

While central banks buy gold for national monetary policy, Tether’s purchases come from profits and support diversification, resilience and collateralization for USDT.

The global financial system is witnessing a period when non-state entities are competing with central banks to build gold reserves. Tether, the issuer of Tether USDt (USDT) — the largest stablecoin in the world — is now one of the largest buyers of gold. In a single quarter, the company purchased more gold than most central banks did in the same period.

This article explores how an enterprise moved ahead of central banks in purchasing gold for its reserves and discusses independent attestations of the purchase. It also examines the rise of non-state gold buyers and what Tether’s gold buying does not indicate.

During the third quarter of 2025, Tether added 26 metric tons of gold to its holdings. According to analysts at Jefferies, this made Tether the single-largest gold buyer in that quarter, larger than the combined purchases of all reporting central banks.

By the end of September 2025, Tether’s total reported gold holdings stood at about 116 tons. If ranked alongside countries on the International Monetary Fund (IMF) official gold reserves list, this would place Tether among the top 30 holders worldwide, ahead of nations such as Greece, Qatar and Australia.

Per analysis from the investment bank Jefferies, Tether’s 26-ton purchase in Q3 2025 exceeded the official gold purchases of many mid-sized central banks during the same period. This reflects a wider trend.

Source: CoinTelegraph