The company behind Tether (USDT) and a financial services firm closely linked to the Bitcoin (BTC) hardware giant Bitmain Technologies are reportedly in talks to raise capital for a public vehicle that will accumulate the gold-pegged digital asset, Tether Gold (XAUt).
Citing people familiar with the matter, Bloomberg reports that Tether and Antalpha Platform Holding aims to raise at least $200 million for a digital-asset treasury company that will stockpile Tether Gold (XAUt), a digital token backed by physical gold bars and currently has a market capitalization of $1.5 billion.
The two firms are already working on Tether Gold, but Antalpha’s announcement of an expanded partnership on September 29th broadens access to XAUt through services that include collateralized lending against the token.
Antalpha says it will establish physical vaults in major financial centers around the world so XAUt holders can exchange their tokens for gold bars through local partners.
The fintech company, which specializes in providing financing and risk management solutions to the digital asset industry, also recently launched the Antalpha RWA Hub, a platform that provides liquidity and services for gold as a Real World Asset (RWA).
In a statement, Antalpha CFO Paul Liang says the collaboration will expand the trusted digital gold ecosystem.
“Digital assets will be more tangible to many when one can walk into a jewelry store and redeem a gold bar with Tether Gold. Through the Antalpha RWA Hub, we hope to deliver new capabilities and services like this that will increase the liquidity and product offerings of Tether Gold.”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
