Tether, the issuer of the USDT stablecoin, has emerged as one of the largest gold reserve holders globally, amassing approximately 140 tons of gold valued at $23 billion. This significant accumulation includes over 70 tons purchased last year, surpassing the gold acquisition volumes of many central banks. Tether's gold reserves support its gold-backed stablecoin, XAUt, which represents ownership of one troy ounce of gold stored in Swiss vaults. XAUt, issued by TG Commodities in El Salvador, is backed by physical gold bars meeting London Bullion Market Association standards. Tether's CEO, Paolo Ardoino, has indicated plans to allocate 10% to 15% of the company's portfolio to physical gold, purchasing one to two tons weekly. This strategy aims to ensure a stable long-term gold supply for XAUt, with Tether's gold purchases accounting for a significant portion of central banks' total gold acquisitions in recent quarters.