Tether boosts XAUT stability with $100M gold mining deal
Tether has signed a new agreement to invest more than $100 million in gold mining and trading infrastructure, aiming to strengthen the backing of XAUT and expand its influence in the supply chain.
The largest stablecoin issuer seeks to deepen its presence in the gold mining sector. The company has held talks with numerous counterparties and intends to invest across the entire gold production chain — from ore extraction to trading and financial firms acquiring royalties.
Tether has already invested $89 million in Elemental Altus Royalties, a company that finances gold miners in exchange for royalties and favorable gold purchase terms.
Now, after Elemental Altus Royalties and EMX merged to form a new company, Elemental Royalty Corp, Tether Investments S.A. committed to purchasing about 75 million Elemental Altus shares at 1.84 CAD per share, with total gross proceeds of $100 million.
Strengthening positions despite skepticism
Tether’s entry into the gold mining industry was met with skepticism. Industry insiders suggested the company “practically has no strategy” and “just likes gold.” Reportedly, Tether also held talks with Terranova Resources, though no deal was reached.
Nevertheless, Tether’s investments could reshape both the gold mining and stablecoin landscapes by strengthening the gold-backed stablecoin XAUT with real reserves.
The largest stablecoin issuer continues to expand its influence across gold production and trading, forming financial partnerships with key mid-tier players in the mining sector.
As we wrote, Tether invests in Bit2Me, gaining indirect access to EU under MiCA
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