Tether Becomes Gold.com’s Biggest Creditor With $1.5 Billion in Gold Financing

Tether has emerged as the dominant financing source for Gold.com, one of the largest gold dealers in the United States, after providing about $1.5 billion in financing for precious-metal leases.

According to Bloomberg, Gold.com had approximately $1.7 billion in outstanding precious-metal leases at the end of June, with Tether accounting for the majority of that financing. Gold.com’s annual report lists $1.688 billion in precious-metals lease liabilities as of June 30, 2026.

The relationship has expanded significantly since Tether acquired a stake in Gold.com earlier this year. Gold.com disclosed that it began leasing precious metals from Tether in 2026 and described the arrangements as an important source of liquidity for its operations.

The financing relationship comes as Tether continues to build a large physical-gold position alongside its stablecoin business. Tether reported that its gold holdings exceeded 146 tonnes as of June 30, 2026. The holdings were worth roughly $20 billion at prices cited in Bloomberg’s report.

Tether has become one of the world’s largest private holders of physical gold, using part of the earnings and reserves generated by its USDT stablecoin business to invest in assets including U.S. Treasuries and precious metals. The company also issues Tether Gold (XAU₮), a digital token representing an interest in physical gold.

The relationship between the two companies goes beyond financing. Gold.com said in its annual filing that it intends to continue its strategic partnership with Tether to build what the companies describe as a global integrated gold ecosystem spanning physical and digital markets. The companies have agreements covering precious-metal leasing, gold storage and other commercial arrangements supporting their respective businesses.

Gold.com also purchased Tether’s XAU₮ tokens in April 2026, according to its filing. The token represents a contractual right to an undivided specific interest in physical gold.

The development highlights Tether’s expanding role beyond the stablecoin market. By providing billions of dollars worth of precious-metal financing while simultaneously accumulating a large physical-gold position, Tether is becoming increasingly connected to the traditional bullion market.

For Gold.com, the financing provides an important source of liquidity for purchasing metals, supporting operations and funding certain lending activities. The company has warned that losing access to its precious-metal leases and other financing arrangements could limit its ability to operate and finance future activities.

The growing relationship between the stablecoin issuer and one of America’s major precious-metals dealers reflects the increasingly close links between cryptocurrency, tokenized assets and traditional commodity markets.