Tether Hires Top HSBC Gold Traders to Take on Bullion Market

Tether Holdings SA is hiring two of the world’s most senior precious metals traders from HSBC Holdings Plc, as the stablecoin giant deploys its deep pockets to build a vast gold reserve and challenge the established players of the bullion market.

HSBC’s global head of metals trading Vincent Domien is set to join the cryptocurrency firm in the coming months, along with Mathew O’Neill, head of precious metals origination for Europe, the Middle East and Africa, people familiar with the matter said. Both have been serving their notice periods in the bank, the people added, asking not to be named as the information isn’t public.