Key notes
- HSBC experts have institutional experience as Tether controls more than $12 billion in gold reserves, making it a major commodities player.
- Gold prices rebounded above $4,100 amid geopolitical uncertainty and the US lockdown, driving demand for tangible safe assets across the chain.
- Tether’s market capitalization exceeds $183 billion with growth of $17 billion in Q3 and $6.5 billion in excess reserves under the new strategy.
Tether, the world’s largest stablecoin issuer, has appointed senior metals traders from HSBC to oversee the expansion of its gold reserves and precious metals trading operations.
The strategic hiring reflects Tether’s plan to diversify its balance sheet through increased exposure to physical assets, particularly gold, amid volatile macroeconomic conditions and continued investor demand for tangible stores of value. Tether now controls one of the largest private gold holdings in the financial sector. With over $12 billion in gold reserves as of September 2025, According to Bloomberg.
Tether expands its gold division with veteran HSBC traders
The new hires bring decades of experience in bullion trading, metals risk management and reserve allocation, signaling Tether’s ambition to become a major participant in the global precious metals market. The company plans to leverage this expertise to enhance liquidity, improve storage efficiency, and possibly introduce new gold-backed financial instruments.
The move also comes during a historic rally for gold, with prices rebounding above $4,100 this week, after retreating from all-time highs above $4,381 in October. Geopolitical uncertainty and the economic impact of the US government shutdown have accelerated demand for cross-chain-traded safe-haven assets such as gold, metals and treasury assets.
By leveraging HSBC’s institutional-level trading expertise, Tether puts itself in a position to improve reserve management through record revenues generated from the issuance of its stablecoin, and expand its influence in traditional commodity markets.
According to Kitco.comVincent Dumaine, global head of metals trading at HSBC, and Matthew O’Neill, former head of precious metals assets in Europe, the Middle East and Africa, are among the executives expected to join Tether’s metals unit in the coming months, which cited anonymous sources.
Tether’s market capitalization exceeded $183 billion on November 11 | Source: CoinMarketCap
Tether’s USDT market cap is over $183 billion at press time on November 11, According to Coinmarketcap data. CEO Paolo Ardoino confirmed that the supply of stablecoins increased by $17 billion in the third quarter, while the company holds excess reserves worth $6.5 billion.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is an experienced research analyst with a background in supporting several startups and financial institutions in the Web3 space. He has his undergraduate degree in Economics and is currently studying for a Masters in Blockchain and Distributed Ledger Technologies at the University of Malta.
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