According to Bloomberg, Tether Holdings SA, the world's largest stablecoin issuer, has its own vault in Switzerland holding $8 billion worth of gold and has an eye on expanding its gold reserves.
The El Salvador-based cryptocurrency company said it currently holds nearly 80 tonnes of gold, the vast majority of which is held directly by Tether, making it one of the largest holders of gold in the world after banks and countries.
"We have our own vault," said Paolo Ardoino, chief executive of Tether. "I believe this is the safest vault in the world." The facility is based in Switzerland but the company declined to say where or when it was set up for security reasons.
Tether holds $8 billion worth of gold in secret Swiss vault
2025-07-08 16:11:58
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