As gold costs surged to $5,300 this week, Tether and Coinbase — the 2 firms behind the world’s largest US greenback stablecoins — are taking totally different approaches to gaining publicity to the dear metallic.
Spot gold climbed above $5,300 per ounce on Wednesday, posting a report excessive of $5,311 at 3:30 am UTC, according to TradingView knowledge.
Amid the rally, Tether, issuer of USDt (USDT), the world’s largest stablecoin, doubled down on its gold accumulation, whereas Coinbase, a key associate within the USDC (USDC) stablecoin consortium, promoted entry to gold futures on its platform.
The contrasting methods present the other ways crypto firms are positioning themselves as gold booms and Bitcoin (BTC) continues to lag, buying and selling under $90,000, according to CoinGecko.
Tether hoards 130 tons of gold, aiming to turn into a “gold central financial institution”
Tether, which additionally points the gold-backed stablecoin XAUt (XAUT), has been accumulating gold as a part of its reserves for a while, reporting $12 billion in publicity as of September 2025.
The corporate holds 520,089 troy ounces of gold for XAUT — roughly 16.2 metric tons — individually from a broader reserve of 130 metric tons, price round $22 billion at present costs.
“Tether maintains roughly 130 metric tons of bodily gold, and the gold backing each XAUT token is held individually, making it eligible for bodily supply redemption,” a spokesperson for Tether advised Cointelegraph.
By holding this a lot gold, Tether is comparable with central banks in international locations akin to Mexico, South Africa and Sweden, in response to reserves knowledge from the World Gold Council.
“We’re quickly turning into principally one of many greatest, let’s say, gold central banks on the planet,” Tether CEO Paolo Ardoino said Wednesday in an interview with Bloomberg.
Coinbase highlights gold futures buying and selling amid bullion rally
In the meantime, Coinbase has been highlighting its commodity futures choices as gold rallies, reminding customers that the platform permits buying and selling in a number of metals, together with gold and silver.
“You possibly can commerce treasured metals on Coinbase,” Coinbase CEO Brian Armstrong mentioned in an X submit on Tuesday. “Silver, gold, copper and platinum futures can be found on Coinbase,” he added.
Commentators famous that futures buying and selling doesn’t contain bodily supply, and a few described the submit as a “prime sign” for merchants, doubtlessly hinting that the market is peaking.
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Binance, the world’s largest crypto change by reported buying and selling volumes, additionally launched perpetual futures tied to gold and silver in early January.
With the newest value spike, spot gold is up 90% over the previous 12 months, whereas Bitcoin is down 13%, and traded at $89,351 on the time of writing.
The US greenback index has declined about 10.7% over the identical interval, including to gold’s enchantment as a hedge.
