In line with a current report, the world’s largest stablecoin firm, Tether, and a companion agency wish to elevate capital for a digital asset treasury firm that will accumulate its tokenized gold.
Tether To Launch Digital Asset Treasury Agency With XAUT: Report
On Friday, October third, Bloomberg reported that Tether and monetary companies agency Antalpha Platform Holding are main an effort to lift no less than $200 million to arrange a digital asset treasury firm. Citing unnamed sources near the matter, this public automobile would use the capital to buy XAUT, Tether’s gold token.
Bloomberg revealed that Antalpha Platform Holding has shut ties to Bitmain Applied sciences, the world’s largest Bitcoin {hardware} provider based mostly in China. In line with a report from the College of Cambridge Choose Enterprise Faculty, the Bitcoin {hardware} producer provides about 82% of the world’s crypto mining machines.
Bloomberg posited that this capital-raising effort would additional strengthen the connection between two of the most important corporations within the world crypto trade. In the meantime, this enterprise would symbolize a continuation in digital asset treasury corporations’ craze occurring this 12 months, with greater than 80 corporations arrange to date in 2025.
Moreover, the report revealed that asset supervisor Cohen & Firm is the lead advisor on the deal, with additional talks saved personal. Whereas most events declined to remark, Tether reportedly identified a publish on the social media platform X about its current announcement with Antalpha.
Supply: @paoloardoino on X
As per the publish on X, Antalpha revealed that it might be integrating Tether Gold into its Actual-World Property (RWA) Hub, providing tokenized gold-backed lending and infrastructure options. The monetary companies agency additionally introduced that it might arrange bodily vaults in main monetary facilities around the globe to permit holders to change the tokens for gold bars.
This transfer to supply XAUT-backed lending got here after Tether had bought an 8.1% stake in Antalpha throughout its preliminary public providing (IPO) earlier in Could 2025.
Tether Gold, launched in 2020, affords traders an publicity to gold with out bodily proudly owning the steel. With a market capitalization of about $1.5 billion, Tether claims that the virtually 250,000 XAUT tokens in circulation are backed by an equal of greater than 7.66 tons of gold.
USDT Market Cap At $175 Billion
On the similar time, Tether owns the most important dollar-backed stablecoin and the fourth-largest digital asset within the cryptocurrency market, with a market cap of greater than $175 billion.
The USDT market cap at $176 billion on the day by day timeframe | Supply: USDT chart on TradingView
Featured picture from Pexels, chart from TradingView
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