Tether is in discussions to invest in the gold mining industry, currently holding a $8.7 billion worth of gold reserves.

BlockBeats News, September 5th, according to the Financial Times, Tether is in talks regarding investing in the gold mining industry. The company plans to invest in various parts of the gold supply chain, including mining, refining, trading, and royalty companies. Currently, Tether holds a $8.7 billion gold reserve in a Zurich vault in Switzerland as collateral for its stablecoin.

In June of this year, Tether Investments has invested $105 million to acquire a minority stake in Elemental Altus, a Toronto-listed gold royalty company.