According to Bloomberg, as the world's largest issuer of stablecoins, Tether Holdings SA has its own treasury in Switzerland, storing $8 billion worth of gold and aiming to expand its gold reserves. The Salvador-based cryptocurrency company said it currently holds nearly 80 tons of gold. The vast majority of this is held directly by Tether, making it one of the largest holders of gold in the world after banks and countries. Tether CEO Paolo Ardoino said: "We have our own treasury. I believe this is the safest vault in the world." The facility is located in Switzerland, but the company declined to disclose its exact location and date of establishment for security reasons.