Tether Partners With Antalpha to Raise $200M for Tokenized Gold Treasury
Tether is collaborating with Antalpha to raise a minimum of $200 million for a digital asset treasury focused on tokenized gold. This initiative involves Tether Gold (XAUT), backed by physical gold stored in a Swiss vault. XAUT is the largest tokenized gold offering, valued at nearly $1.5 billion.
- Antalpha, known for lending to Bitmain, is expanding its partnership with Tether to enhance access to Tether Gold through a hub for lending, custody, and token redemption services.
- Plans include opening vaults in major financial hubs for users to redeem tokens for physical gold.
Tether's expansion extends beyond USDT, including investments in various sectors like Bitcoin mining and AI. It was a lead investor in XXI Capital, a bitcoin treasury firm. Tether is also reportedly seeking to raise funds valuing it at $500 billion.
CEO Paolo Ardoino supports gold as a hard asset, with Tether holding $8.7 billion in gold according to their June attestation.