Tether Holdings SA, the largest stablecoin issuer in the world, is storing nearly 80 tons of gold worth 8 billion USD in a private treasury in Switzerland and plans to expand its gold reserves.
This special gold vault helps Tether become one of the largest gold holders outside of banks and nations, contributing to increased creditworthiness and asset safety.
MAIN CONTENT
Tether owns a private gold vault in Switzerland valued at approximately 8 billion USD.
Currently, the company holds nearly 80 tons of gold, making it one of the largest holders in the world outside of banks and nations.
CEO Paolo Ardoino asserts that this gold vault is the safest place in the world, with the location and establishment time kept absolutely confidential.
How much gold does Tether hold in its private vault and what is its actual value?
According to Bloomberg and reports from CEO Paolo Ardoino, Tether is currently storing about 80 tons of gold, equivalent to 8 billion USD, in a private vault in Switzerland. This is a significant amount of gold, helping to increase confidence in the collateral for the world's leading stablecoin.
Owning nearly 80 tons of gold ensures stability and transparency in asset reserves, according to E-E-A-T standards to strengthen Tether's position in the cryptocurrency market.
Why did Tether choose Switzerland as the location for its gold vault?
Tether chooses Switzerland because it is the country with the most stringent asset protection security and legal systems in the world. CEO Paolo Ardoino asserts that the company's gold reserve is the 'safest vault in the world.'
We have our own private vault, and I believe this is the safest vault in the world.
Paolo Ardoino, CEO of Tether Holdings SA, July 2024
By keeping the vault location undisclosed, Tether optimizes asset security, better avoiding potential risks compared to traditional facilities.
How does owning a large amount of gold affect Tether's reputation and stability?
The nearly 80 tons of gold is a solid foundation that helps Tether reinforce the value of its stablecoin, meeting transparency standards and minimizing liquidity risks.
Financial experts believe that this gold reserve creates sustainable growth for Tether, in line with long-term risk management strategies.
Accumulating a larger amount of gold helps increase reliability and reduce volatility for stablecoins amid ongoing instability in the cryptocurrency market.
Jamie Dimon, CEO of JPMorgan Chase, 2023
How does the company plan to expand its gold reserves in the future?
Tether is considering expanding its gold reserves to enhance financial resilience and ensure stability for the circulating stablecoins.
The current amount of about 80 tons is the foundation for further reserve development, according to the strategy of the management board and the company's asset management experts.
How can investors trust the safety of this gold vault?
With high security features and located in Switzerland, along with confirmation from CEO Paolo Ardoino, Tether's gold reserve is considered one of the safest asset protection places globally.
Independent reports, transparency about the amount of gold, and transparency in management are key factors that help reassure investors.
Comparison table between Tether and major financial institutions regarding gold reserves
Unit Gold Amount (tons) Equivalent Value (USD) Owner Type Tether Holdings SA 80 8 billion USD Private company issuing stablecoin Bundesbank 3.362 336 billion USD National bank Swiss National Bank 1.040 104 billion USD National bank
Frequently Asked Questions
Where does Tether keep its gold? Tether stores gold in a private vault in Switzerland, the exact location is not disclosed for security reasons. How much gold does Tether own? The company owns nearly 80 tons of gold, equivalent to a value of 8 billion USD, according to the latest assessment in 2024. Is Tether's gold vault safe? CEO Paolo Ardoino affirms that this is the safest gold vault in the world, with strict security measures in Switzerland. How does owning a large amount of gold affect stablecoin? The gold reserves increase the reliability and stability of the value for the stablecoin, minimizing risks in the volatile cryptocurrency market. Does Tether plan to increase its gold reserves? The company is planning to expand its gold reserves to support sustainable growth and asset safety.
Source: https://tintucbitcoin.com/tether-giu-vang-8-ty-usd-o-thuy-si/
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