Tether: Новый игрок на рынке золота с резервами в $23 млрд в швейцарском бункере Translation: Tether: A New Player in the Gold Market with $23 Billion in Reserves in a Swiss Bunker

Tether Holdings SA has transformed a former nuclear bunker in Switzerland into a storage facility for its gold reserves. In an interview with Bloomberg, the company’s CEO, Paolo Ardoino, mentioned that the site is heavily secured and reminiscent of locations from James Bond films.

The issuer of USDT holds approximately 140 tons of precious metal valued at $23 billion, making Tether one of the largest non-state holders of physical gold in the world.

Every week, over a ton of bullion is delivered to the secure storage. Ardoino stated that the company intends to maintain its purchasing pace, reviewing its strategy quarterly.

Last year, Tether acquired more than 70 tons of gold, with only Poland among central banks declaring such large volumes.

Ardoino likened the current role of the company in the market to that of a central bank. The diversification of reserves is a response to the devaluation of fiat currencies and growing distrust in U.S. government debt.

To manage these assets, Tether has employed two leading traders from HSBC. The company aims not only to store the metal but also to actively trade it, competing with major financial institutions. Ardoino set an ambitious goal to create «the best gold trading platform in the world.»

The accumulated gold backs the reserves of the USDT stablecoin, as well as Tether’s own token, Tether Gold (XAUT).

Analysts view Tether’s actions as a significant market factor. Experts from Jefferies Financial Group associate the issuer’s activities with the historic rise in gold prices. Representatives from the World Gold Council confirmed the influence of this crypto giant, identifying it as one of the catalysts for the rally.

Additionally, Tether is investing in the mining sector by acquiring stakes in royalty companies.

As a reminder, by the end of September 2025, the issuer’s reserves had reached levels comparable to those of the central banks of Korea, Greece, and Hungary.