Prestige Wealth Secures $150M for Digital Gold Treasury
- Prestige Wealth (PWM) raised $150 million, including a $100 million private placement and $50 million in senior debt.
- Funding will primarily be used to acquire tokenized gold reserves linked to Tether’s XAUT stablecoin, valued at approximately $3,991.17.
- The company plans to rebrand as Aurelion and will begin trading under the ticker AURE on Monday.
- Aurelion aims to create a transparent treasury structure for holding Tether Gold, which is redeemable and traceable on-chain.
- The stock surged by up to 35% pre-market following the announcement before stabilizing early in the trading session.
This financing round reflects a strategic shift towards digital assets backed by tangible value, with new CEO Björn Schmidtke emphasizing the importance of real-world backing amidst market volatility.
With plans to generate yield through lending gold holdings while maintaining collateral, Aurelion’s approach marks a notable development in the integration of stablecoins with physical assets like gold. (Source)
