Tether stores $8b worth of gold in a secret vault in Swiss: report
2025-07-09 10:19:12
Main Idea
Tether, a major stablecoin issuer, owns nearly 80 tons of gold worth $8 billion, stored in a highly secure vault in Switzerland, to back its assets, including the Tether Gold (XAUT) token.
Key Points
1. Tether holds almost 80 tons of gold, valued at $8 billion, stored in a secure Swiss vault.
2. The gold is primarily owned directly by Tether and serves as backing for its assets, including the XAUT token.
3. Tether Gold (XAUT) is backed by physical gold on a 1:1 ratio, with a market cap exceeding $811 million.
4. Gold is considered a safer asset than national currencies, with central banks in BRICS countries increasing their gold reserves.
5. Tether recently issued 7.7 tons of physical gold to back its XAUT token.
Description
Stablecoin issuer giant Tether reportedly owns almost 80 tons gold that backs its assets. The gold stockpile is kept in a vault in Switzerland in an undisclosed location for security reasons. According to a recent report by Bloomberg, Chief Executive Paolo Ardoino said that the pile of gold is worth $8 billion. He claimed that the gold is kept in a facility that is the most “most secure vault in the world.” Although, the company would not reveal its location for security reasons. Ardoino also de...
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