Tether to Launch US-Focused Stablecoin, Adds Gold to Reserves
Tether is reportedly planning to launch a new U.S.-focused stablecoin, USAT, in response to anticipated American stablecoin regulation. Simultaneously, the company is diversifying its reserves by acquiring significant gold holdings, with one report mentioning 140 tonnes of gold. This dual strategy aims to navigate the U.S. regulatory environment while also hedging its reserve assets.
- The new USAT stablecoin is issued by Anchorage Digital Bank, the first federally chartered crypto bank, and its reserves are managed by institutional finance firm Cantor Fitzgerald to ensure compliance with the GENIUS Act. - This move is a direct response to the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which was signed into law in July 2025 to create a comprehensive federal regulatory framework for stablecoin issuers. - To lead the new U.S.-focused entity, Tether appointed Bo Hines, the former executive director of the White House Crypto Council. - By late January 2026, Tether's physical gold reserves had reached approximately 148 metric tonnes, valued at an estimated $23 billion, making the company one of the top 30 largest gold holders in the world. - This gold accumulation is part of a deliberate strategy to allocate 10-15% of its investment portfolio to physical bullion, which is reportedly stored in a former nuclear bunker in the Swiss Alps. - Beyond gold, Tether's total assets surpassed $192 billion by the end of 2025, with U.S. Treasury bills forming the largest component of its reserves at approximately $141 billion. - In a move that differs from competitors like Coinbase, Tether has reportedly expressed support for provisions within the U.S. crypto legislation that would ban yield offerings on stablecoins. - The gold reserves serve a dual purpose, acting as a diversified asset for USDT's backing while also directly underpinning Tether's separate Gold (XAUT) token, which represents ownership of one troy ounce of physical gold.
