Tether is in talks to invest in gold mining and currently holds gold reserves worth $8.7 billion

According to Odaily Planet Daily, Tether is in talks to invest in the gold mining industry. The company plans to invest in all stages of the gold supply chain, including mining, refining, trading, and royalty companies. Tether currently holds $8.7 billion worth of gold reserves in a Zurich, Switzerland, vault as collateral for its stablecoin.

In June, Tether Investments spent $105 million to acquire a minority stake in Toronto-listed gold royalty company Elemental Altus. (Financial Times)