Tether has collected the largest private reserve of gold in a nuclear bunker, 2026/01/28 11:08:46

USDT stablecoin issuer Tether has become the world’s largest private owner of gold reserves. The volume of accumulated precious metal is approaching 140 tons, and its estimated value is about $24 billion, Tether CEO Paolo Ardoino said in an interview with Bloomberg.

Every week the company purchases one or two tons of the most expensive precious metal, Ardoino reported. Over the past year, Tether has added more than 70 tons of gold to its reserves. According to Bloomberg calculations, this is more than the annual purchases of almost any central bank, with the exception of the Central Bank of Poland, which over the same period increased its gold reserves by 102 tons. For comparison, all the world’s central banks together purchased a little more than 200 tons in 2025. 

Tether stores its entire volume of precious metal in the form of gold bars in Switzerland, in a specially converted nuclear bunker. The facility was equipped with a multi-level protection system, assures the head of the company.  

Paolo Ardoino, in a conversation with the agency, drew parallels between Tether and state central banks. According to him, Tether is actually turning into one of the largest “gold central banks” on the planet, playing an increasingly significant role in the global precious metals market. Ardoino said the company is going to launch gold trading, becoming a competitor to large commercial banks.  

Tether issues its own gold token, XAUT, which can be exchanged for bullion. According to Ardoino, the volume of issued tokens is equivalent to 16 tons of gold ($2.7 billion). A token of a smaller denomination,  Scudo, is also issued. The head of the company hopes that by the end of the year, XAUT’s market turnover will reach $5–10 billion. 

Recently, Tether announced the release of a stablecoin pegged to the dollar specifically for the American market.