Tether To Become "Gold Central Bank" In Post-Dollar World, CEO Ardoino Says

Core Viewpoint - Tether aims to become one of the largest gold central banks globally, actively trading its gold reserves to capitalize on market opportunities [1][8]. Group 1: Gold Holdings and Strategy - Tether is currently purchasing one to two tons of gold per week and plans to maintain this pace for the next few months, having amassed close to 140 tons of gold stored in a secure facility in Switzerland [4][8]. - The company's gold holdings are valued at over $23.3 billion, with gold prices currently around $5,234 per troy ounce [6][8]. - Tether's gold reserves are reportedly the largest known outside of central banks, ETFs, and commercial banks, with approximately 130 metric tons eligible for physical delivery redemption [5]. Group 2: Market Position and Expansion - Tether is preparing to enter the gold trading market, aiming to compete with major banking institutions like JPMorgan and HSBC [7][11]. - The company has recruited senior traders from HSBC to lead its expansion into the bullion market and has also increased its equity portfolio by investing in Canadian firms related to precious metals [11]. Group 3: Product Offerings and Market Impact - Tether's primary product, USDT, dominates the global stablecoin market with over $186 billion in circulation, providing the capital necessary for further investments in gold [13]. - The company also issues Tether Gold (XAUT), which holds over 50% of the gold stablecoin market with a market capitalization of $2.62 billion [13].