In accordance with a latest report, the world’s largest stablecoin firm, Tether, and a accomplice agency want to increase 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 providers agency Antalpha Platform Holding are main an effort to boost no less than $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 based mostly in China. In accordance with a report from the College of Cambridge Decide Enterprise College, 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 firms within the international crypto trade. In the meantime, this enterprise would signify a continuation in digital asset treasury firms’ craze taking place this yr, 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 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 might be integrating Tether Gold into its Actual-World Belongings (RWA) Hub, providing tokenized gold-backed lending and infrastructure options. The monetary providers agency additionally introduced that it might arrange bodily vaults in main monetary facilities around the globe to permit holders to alternate 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 buyers 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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