After reviewing industry reports and reserve disclosures, I found that Tether acquired approximately 27 metric tons of gold in Q4 2025 as part of its continued expansion of reserves backing $XAU .

This move is significant not only in scale, but also in timing. Against the backdrop of record-high gold prices, persistent geopolitical risks, and macroeconomic uncertainty, demand for gold-backed digital assets has accelerated sharply.

Over the past year, the gold-backed stablecoin market expanded from roughly $1.3 billion to over $4 billion, with Tether Gold accounting for nearly 60% of total market share. This level of dominance positions Tether as the clear leader in the segment.