Based on a latest report, the world’s largest stablecoin firm, Tether, and a associate agency wish to elevate capital for a digital asset treasury firm that might 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 boost at the least $200 million to arrange a digital asset treasury firm. Citing unnamed sources near the matter, this public car 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 primarily based in China. Based on 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 biggest corporations within the world crypto business. In the meantime, this enterprise would signify a continuation in digital asset treasury corporations’ craze taking place this yr, with greater than 80 companies arrange to date in 2025.
Moreover, the report revealed that asset supervisor Cohen & Firm is the lead advisor on the deal, with additional talks stored non-public. Whereas most events declined to remark, Tether reportedly identified a submit on the social media platform X about its latest announcement with Antalpha.
Supply: @paoloardoino on X
As per the submit on X, Antalpha revealed that it will be integrating Tether Gold into its Actual-World Belongings (RWA) Hub, providing tokenized gold-backed lending and infrastructure options. The monetary companies agency additionally introduced that it will arrange bodily vaults in main monetary facilities world wide 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, provides 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 identical time, Tether owns the biggest 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 every day timeframe | Supply: USDT chart on TradingView
Featured picture from Pexels, chart from TradingView
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