Tether provides $2B in financing to US gold dealer as bullion holdings hit 140 metric tons

Tether has emerged as a major player in the global precious metals market after providing approximately $1.5 billion in financing to Gold.com. This arrangement positions the stablecoin issuer as the dominant creditor behind the US bullion dealer's $1.7 billion in outstanding precious-metal leases. According to annual filings, Gold.com owed Tether roughly $1.45 billion in payables and advances as of late June, following Tether's acquisition of a 13% equity stake in the company for $150 million. Beyond financing dealer inventory, Tether has accumulated one of the largest private physical gold reserves globally, totaling 146 metric tons valued at approximately $20 billion. The company has utilized its massive dollar reserves from USDT issuance to diversify into physical gold and US Treasuries. Gold.com noted that Tether's gold-leasing facility offered attractive financing rates of 1.75% compared to commercial bank credit facilities around 6%. This strategic expansion into bullion lending demonstrates the growing convergence of digital asset issuers and traditional commodities financing, providing physical refiners and dealers with lower-cost liquidity amid heightened market volatility.