Tether Looking to Launch Tokenized Gold Treasury Firm With Antalpha Raising $200M: Report
The report comes after Antalpha, a key lender of mining hardware firm Bitmain, launched lending and infrastructure tools for Tether Gold (XAUT).
- Tether is seeking to raise funds with crypto miner financing firm Antalpha to create a digital asset treasury focused on tokenized gold, Bloomberg reported.
- The new treasury would stockpile Tether Gold (XAUT), Tether's gold-backed token, according to the report.
- The report follows Tether investment in bitcoin treasury company XXI Capital.
Tether, the company behind the USDT stablecoin , is working with crypto miner financing firm Antalpha to raise at least $200 million for a new digital asset treasury for tokenized gold, Bloomberg reported Friday, citing sources familiar with the matter.
The planned vehicle would stockpile Tether Gold (XAUT), a blockchain-based token backed by physical gold bars under custody in a Swiss vault. XAUT is the largest tokenized gold offering on the market with nearly $1.5 billion market capitalization.
Antalpha is known as a key lender of Chinese crypto mining equipment manufacturer Bitmain, and offers supply chain and margin loans.
The report follows an expanded partnership between Tether and Antalpha, announced on Monday, to launch a dedicated hub for XAUT-backed lending, custody and token redemption services. Antalpha said then it plans to work with partners to open vaults in major financial hubs, allowing users to redeem digital tokens for physical gold.
Tether has expanded beyond issuing its flagship USDT token, the largest stablecoin boasting a $174 billion supply, with investments spanning across bitcoin mining, payments, energy and artificial intelligence (AI). It was a lead investor, alongside Bitfinex, with which it shares key executives and ownership, and SoftBank, in bitcoin treasury firm XXI Capital that launched earlier this year. Tether also reportedly seeks to raise funds at a $500 billion valuation to fuel its expansion.
Paolo Ardoino, CEO of Tether, has been a vocal proponent of gold as a hard asset, The company held $8.7 billion in the yellow metal on its balance sheet, according to its June attestation.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
