HSBC Executive Duo Join Tether to Strengthen $12 Billion Gold Strategy

Jakarta, Pintu News – Tether, the world’s largest stablecoin issuer, recently announced the hiring of two senior executives from HSBC, a bank that manages one of the world’s largest gold vaults. The move comes as interest in the precious metal grows amid global economic uncertainty. Read the full story in this article!

Strategic Hires from HSBC

Vincent Domien, previously head of global metals trading at HSBC, will join Tether in the coming months. He will be joined by Mathew O’Neill, HSBC’s head of precious metals for the Europe, Middle East and Africa region. The two executives are expected to accelerate the expansion of Tether’s physical bullion holdings, which currently total $12 billion.

These two figures bring not only their expertise, but also extensive experience in gold trading, which will be invaluable in developing the Tether gold strategy. They will be instrumental in managing and increasing the physical gold reserves backing Tether Gold (XAUT) and a portion of the reserves backing Tether (USDT).

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Massive Expansion in the Gold Market

During September this year, Tether has added gold to its reserves at an average rate of 1 metric ton per week. According to data from Bloomberg, this makes Tether one of the largest non-state buyers of gold. With its growing gold reserves, Tether plans to expand its influence in the global gold market.

The hiring of executives from HSBC is not only strategic but also demonstrates Tether’s ambition to become a key player in gold trading. HSBC itself is one of the largest market makers for spot gold, gold futures, swaps and options, and a core member of the London Bullion Market Association.

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HSBC’s role and Tether’s innovation

HSBC has long been recognized as one of the banks with the largest gold vault in London and an important player in the global gold market. HSBC’s experience and infrastructure in gold trading provides a strong foundation for executives joining Tether. It also marks an important step for Tether in adopting the latest technology and innovations in gold tokenization.

HSBC was also one of the first companies to launch a tokenized gold offering, which became operational in 2024. This demonstrates a growing trend where blockchain technology is being used to increase transparency and efficiency in gold trading.

Conclusion

With this hire, Tether not only strengthens its team with two top executives in the industry, but also affirms its commitment to the gold strategy. This demonstrates Tether’s vision to utilize gold as a stable asset in its financial portfolio, while expanding the use of blockchain technology in real assets such as gold.

The move also marks a new era in the integration between traditional finance and crypto markets, where the two sectors are becoming increasingly inseparable. With this expansion, Tether has the potential to change the dynamics of the global gold market.

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Reference

• Crypto News. Tether Taps HSBC Executives to Ramp Up $12B Gold Strategy. Accessed on November 13, 2025
• Featured Image: Finbold