Tether Makes a Golden Move: Snaps Up One-Third Stake in Elemental Altus

Tether, the company behind the world’s largest dollar-pegged stablecoin, has quietly expanded its footprint into the precious-metals sector.

The firm just spent roughly C$126 million (about US$89 million) to buy 78.4 million shares of Vancouver-listed royalty specialist Elemental Altus at C$1.55 apiece.

That single transaction hands Tether almost 32 percent of Elemental Altus’s total equity, instantly vaulting the stablecoin issuer to the top tier of the gold-royalty company’s shareholder register.

Tether wasn’t starting from zero: it had already built a small position of just over 4.3 million shares. After the latest purchase, its holdings climb to 82.8 million shares, equal to about 34 percent of Elemental Altus’s outstanding stock.

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Elemental Altus chief executive Frederick Bell called the new backer “a transformative partner” poised to accelerate the firm’s next growth stage. On Tether’s side, CEO Paolo Ardoino framed the deal as a strategic bet on gold’s enduring role in global finance—and a natural complement to Tether Gold and any future commodity-linked tokens the company may launch.

With the stablecoin giant now tied closely to a diversified stream of gold royalties, both crypto and metals markets will be watching to see how the alliance shapes Tether’s push into asset-backed digital finance.