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Tether recruits senior HSBC metals traders as it expands gold reserves
Tether diversifies its business by leveraging top banking expertise to build gold reserves and invest in precious metals markets.
Tether, a stablecoin issuer, is recruiting senior talent from HSBC as it expands into the bullion market. The company has amassed a massive gold reserve as part of its $180 billion total assets.
The move comes amid a historic rally in gold and growing competition for experienced metal traders.
It has become increasingly common for banks and trading houses to hire gold specialists to capitalize on the booming bullion market. Tether is actively purchasing physical gold from Swiss refiners while investing in gold royalty and mining companies.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.