Tether And Antalpha Seek $200M To Build Digital Asset Treasury For Gold-Backed Token
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Tether, the world’s largest stablecoin issuer, is teaming up with Antalpha Platform Holding to raise at least $200 million for a new digital asset treasury company, according to a Bloomberg report published Friday.
The Singapore-based financial services firm and Tether are reportedly leading the fundraising effort to create a vehicle dedicated to acquiring Tether Gold (XAUT), the company’s gold-backed token. If successful, the capital will be used primarily to stockpile XAUT, expanding its presence as a digital commodity asset.
Antalpha Platform is a close strategic partner of China’s Bitmain Technologies, one of the world’s most influential Bitcoin mining machine manufacturers.
Bitmain is estimated to supply over 80% of the global crypto mining hardware, a dominance highlighted in a report from the University of Cambridge Judge Business School cited by Bloomberg.
This move highlights Tether’s ongoing push to diversify beyond its USDT stablecoin and expand into tokenized assets. By creating a treasury focused on gold-backed tokens, the firm may be seeking to appeal to investors looking for digital assets tied to tangible reserves.
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