On January 28, stablecoin issuer Tether disclosed that its gold reserves have exceeded 140 metric tons, making it one of the largest gold holders outside sovereign states and the banking system. The gold is stored in high-security facilities and is used to support the asset reserve structure backing its stablecoins.
Previous disclosures indicate that Tether increased its gold reserves by approximately 27 metric tons in the fourth quarter of 2025, elevating it into the top 30 gold holders worldwide. Its holdings now surpass those of countries such as Greece, Qatar, and Australia. These developments reflect a broader trend in which some stablecoin issuers are reinforcing their physical asset reserves in response to growing market scrutiny over asset security and long-term stability.
Against the backdrop of intensifying regulatory discussions around stablecoins, the composition of reserve assets has become an important reference point for both policymakers and market participants. Compared with reliance on a single financial asset, diversified reserve structures—particularly allocations to traditional safe-haven assets such as gold—are increasingly viewed as a means of enhancing resilience under extreme market conditions. At the same time, such arrangements impose higher requirements on custody security, audit frameworks, and information disclosure.
As stablecoins continue to gain wider adoption in cross-border payments and digital settlement scenarios, the verifiability and transparency of their underlying assets have drawn increasing attention. Regulators are broadly focused on whether reserve assets genuinely exist, are independently custodied, and can effectively support redemption demands in stressed market environments.
Within this context, ongoing disclosure of stablecoin reserve assets and the monitoring of on-chain fund flows are becoming integral components of risk management. Risk analysis and monitoring mechanisms such as Trustformer KYT are commonly employed to assist in identifying and assessing stablecoin-related transaction activities and potential risks, providing market participants with clearer visibility into associated risk exposures.