Tether Spares no Expense to Poach Talent from HSBC, Bolsters Gold Reserves

BlockBeats News, November 11th: Tether, the issuer of the world's largest stablecoin, is reportedly hiring two of the most senior global precious metals traders from HSBC Holdings. The stablecoin giant is leveraging its substantial financial resources to build a massive gold reserve and challenge existing participants in the gold and silver markets.

According to sources familiar with the matter, Vincent Domien, HSBC Bank's Global Head of Metal Trading, will join this cryptocurrency company in the coming months, along with Mathew O'Neill, Head of Precious Metals Distribution for Europe, the Middle East, and Africa. In recent years, Tether has actively expanded its presence in the precious metals field, accumulating one of the world's largest gold reserves outside of banks and countries as part of its over $180 billion reserve assets.

HSBC Bank is a key player in the precious metals sector, widely considered the second-largest participant after JPMorgan Chase, with business activities spanning futures trading, vault storage, and global gold bar transportation. (Golden Finance)