Tether Holds $8 Billion Worth of Gold in Swiss Secret Vault

BlockBeats News, July 9th, according to Bloomberg, as the issuer of the world's largest stablecoin, Tether Holdings SA has its own gold treasury in Switzerland, holding $8 billion worth of gold and aiming to expand its gold reserves.

This cryptocurrency company, based in El Salvador, stated that it currently holds nearly 80 tons of gold. The majority of it is held directly by Tether, making it one of the world's largest gold holders outside of banks and countries.

Tether's Chief Technology Officer Paolo Ardoino stated: "We have our own treasury gold. I believe this is the safest gold treasury in the world." The facility is located in Switzerland, but for security reasons, the company has refused to disclose its specific location and founding date.