Tether Partners with Antalpha to Launch $200M Tokenized Gold Treasury
- Tether aims to raise at least $200 million for a new digital asset treasury focused on tokenized gold.
- The treasury will stockpile XAUT, a blockchain-based token backed by physical gold bars held in a Swiss vault.
- XAUT is the largest tokenized gold offering, with a market capitalization of nearly $1.5 billion.
- Antalpha, known for lending to crypto mining firms, has expanded its partnership with Tether to facilitate XAUT-backed services.
- Tether’s CEO, Paolo Ardoino, advocates for gold as a hard asset and reports holding $8.7 billion in gold on its balance sheet.
This initiative reflects Tether’s strategy to diversify beyond its flagship stablecoin USDT, which has a supply of $174 billion. The collaboration with Antalpha aims to enhance access to gold-backed digital assets through dedicated vaults in major financial hubs.
With plans for a new treasury and significant investments in various sectors, Tether is positioning itself strongly within the cryptocurrency landscape, including an emphasis on tangible assets like gold.(Source)
