Tether Holdings, the company behind the world’s largest stablecoin USDT, is preparing to raise at least $200 million for a new digital asset venture. The plan centers on building a public vehicle designed to accumulate tokenized gold.
Tether Partners With Bitmain-Linked Antalpha To Build $200 Million Gold Treasury
According to a Bloomberg report, Tether is working with Antalpha Platform Holding, a financial services firm tied to mining giant Bitmain Technologies. Together, they aim to create a digital-asset treasury that would stockpile Tether’s gold-backed token, XAUt.
Those familiar with the matter said the goal is to strengthen their presence in the fast-growing market for tokenized real-world assets. The fundraising effort highlights a deepening connection between two of the industry’s most influential players.
Tether dominates the stablecoin market through USDT, while Bitmain supplies the bulk of the world’s mining machines. Antalpha, closely linked with Bitmain, has become a key partner for Tether in its push into gold. Cohen & Co. is acting as lead advisor on the deal.
Tether Expands XAUt Services As Tokenized Gold Demand Hits Record Highs
XAUt, launched in 2020, represents ownership of physical gold bars stored in secure vaults. Due to political tensions and the inflation concerns, demand remains rampant as the price of gold has been increasing steadily.
Tether and Antalpha have just expanded their relationship by establishing secured loan services backed by XAUt. At the same time, ARK Invest is eyeing a stake in Tether as the firm targets a $500 billion valuation. There are also plans to establish vaults in major financial hubs where holders can redeem tokens for gold.
The move by the USDT issuer comes as companies increasingly replicate the corporate treasury model popularized by Michael Saylor’s Bitcoin-buying entity Strategy Inc. More than 80 digital-asset treasury firms have emerged this year, many using reverse takeovers or SPACs to gain public listings.
Tether’s $20 Billion Stablecoin Ambition Aligns With Growing Institutional Interest In Gold
Tether itself has previously partnered with Cantor Fitzgerald and SoftBank to launch a Bitcoin treasury vehicle named Twenty-One Capital. The push into tokenized gold arrives as Tether seeks to raise up to $20 billion for its core stablecoin operations. In addition, Tether recently launched a US-based stablecoin, USAT, appointing Bo Hines as CEO
That deal would value the firm at around $500 billion, placing it among the world’s most valuable private companies. Linking gold to its ecosystem offers Tether both diversification and a hedge against broader market volatility.
Paolo Ardoino, Tether’s chief executive, recently emphasized gold’s role in a volatile global economy. In a social media post, he described XAUt as the best way to move, hold, and trade gold during uncertain times.
Gold demand has climbed 46% this year. Tether’s expansion shows digital assets tied to real commodities is gaining institutional traction. If the raise succeeds, it could reshape how investors access tokenized bullion in global markets.
Source: https://coingape.com/tether-seeks-200-million-to-launch-tokenized-gold-treasury/
