CEO Paolo Ardoino, CEO- Tether  said  that he expects the company to become one of the largest gold central banks in the world.The company plans to start trading its gold reserves for additional profit.Tether owns around 140 tons of gold, worth around $23 billion, stored in a nuclear bunker in Switzerland.To contextualize this: that’s more than the official gold reserves of several developed nations, including Singapore, South Korea, and New Zealand. While still dwarfed by traditional central bank heavyweights like the United States (8,133 tons) or Germany (3,352 tons), Tether’s stockpile positions it alongside mid-tier sovereign holders.

Ardoino said  that he expects the company’s role in the gold market to expand as geopolitical rivals to the U.S. will likely launch a gold-backed alternative to the dollar. The CEO previously said that gold is “logically a safer asset than any national currency.”

Perhaps the most significant aspect of Ardoino’s announcement is Tether’s intention to actively trade its gold reserves for profit—a departure from the passive holding strategies typically employed by central banks and a move that fundamentally blurs the line between treasury management and speculation.

With the recent surge in gold and other metal prices, Tether’s gold holdings are worth over $23.3 billion. As of today, gold’s price stands at approximately $5,234 per troy ounce, continuing its strong rally.