Overview
- Tether said it hired HSBC’s Vincent Domien and Mathew O’Neill, who are expected to join its metals unit in the coming months.
- Their brief is to scale bullion trading, deepen liquidity, and improve storage for reserves that support USDT and the Tether Gold (XAUT) token.
- The company holds over $12 billion in physical gold and was buying roughly one metric ton per week in September, a pace Bloomberg cites as among the largest for non‑state buyers.
- Tether reports USDT’s market value above $183 billion on Nov. 11, with a $17 billion supply increase in Q3 and $6.5 billion in excess reserves available for growth.
- HSBC operates a leading private gold vault and is a major London market maker and clearer, a background that highlights the significance of the hires.