PANews reported on July 9 that, according to Bloomberg, Tether Holdings SA, the issuer of the world's largest stablecoin, has its own vault in Switzerland, storing $8 billion worth of gold, and is looking to expand its gold reserves. The company said it currently holds nearly 80 tons of gold, most of which is held directly by Tether, making it one of the world's largest gold holders outside of banks and countries. CEO Paolo Ardoino said: "We have our own vault. I believe it is the safest vault in the world." The facility is located in Switzerland, but for security reasons, the company declined to disclose its specific location and establishment time.