Tether placed 80 tons of gold in her storage in Switzerland

Tether, the USDT Steabelcoin issuer, stores about 80 tons of gold in the amount of $ 8 billion in its own vault in Switzerland, writes RBC Crypto. According to the head of Paolo Ardoino, this is “the safest storage in the world”, but its exact location and date of creation are not disclosed.

Almost the entire volume belongs directly to Tether, which makes it one of the largest private gold holders in the world, journalists note. The company explains such a strategy for the growth of gold prices due to the interest in it from the Central Banks of the BRICS countries, as well as the desire to reduce costs, in particular to avoid commissions that charge third-party castodians.

80 tons are more than the reserves of gold of countries such as Australia, Czech Republic or Argentina, according to the World Golden Council on March 31, 2025. At the same time, the largest “gold” exchange fund SPDR Gold Trust stores almost 950 tons of metal to provide shares.

In addition to dollar stablecoin, Tether produces Steblcoin Xaut -tied to the price of gold. Each token is supported by one ounces of gold, which can be physically obtained in Switzerland.

According to the Tether reserves for the first quarter of this year, precious metals amounted to 4.46% ($ 6.66 billion out of $ 149.27 billion). The largest part of the company’s reserves accounted for US Treasury bonds – $ 98.5 billion.

At the end of April, Tether reported that the size of the XUT, the capitalization of which is $ 811 million, increased to 7.7 tons of gold. The market value of the nearest and practically the only major competitor is Pax Gold (PAXG) from PAXOS – $ 923 million.

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