Tether Pushing for New Digital Asset Treasury Company That Accumulates Firm’s Gold-Backed XAUT Token: Report
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.”
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: Institutional ETF Investments Spark Significant Growth in XRP Adoption
- XRP surged over 8% as new ETFs injected $164M in inflows, marking institutional adoption growth. - Franklin Templeton's XRPZ ETF and Grayscale's GXRP led with $62.59M and $67.36M in debut-day inflows. - Analysts highlight XRP's $1.80–$3.50 trading range and potential $8 target by 2026 if key support holds. - Risks include whale selling (180M tokens offloaded) and uncertainty over Fed rate cuts impacting liquidity.
Crypto at a Turning Point: Speculation-Fueled Swings or Growth Through Real-World Use
- Crypto market debates focus on speculative assets vs. utility-driven projects like GeeFi's GEE token, contrasting Avalanche's (AVAX) long-term volatility with immediate adoption solutions. - GeeFi's presale surpassed 80% completion, offering a non-custodial wallet supporting 14 blockchains to address crypto accessibility, differentiating from AVAX's ecosystem-dependent growth model. - AVAX's $14.94 valuation faces volatile projections (up to $326 by 2031), contrasting GeeFi's tangible product launch and
Biometric Technology Supersedes Crypto Seed Phrases, Much Like Rotary Phones Were Replaced by Modern Landlines
- Biometric authentication is replacing crypto seed phrases as cyber threats outpace traditional security methods like passwords and hardware wallets. - Advanced systems use secure enclaves and liveness detection 3.0 to protect biometric templates, preventing spoofing and data misuse. - Early adopters report 99.3% fewer account takeovers after implementing facial/liveness verification, showing biometrics' fraud-reduction potential. - While privacy concerns and coercion risks persist, biometrics offer non-t
Solana News Update: CoinShares Drops Altcoin ETFs While Mainstream Finance Leads in Inflows
- CoinShares withdrew Solana , XRP , and Litecoin ETF applications due to market saturation by traditional finance giants like BlackRock and Fidelity. - The firm cited structural challenges and weak demand, with Litecoin ETFs recording zero inflows while Solana staking ETFs attracted $570M in net inflows. - CoinShares is pivoting to active strategies and thematic crypto baskets, reflecting broader market skepticism toward altcoin ETFs amid regulatory uncertainty and volatile crypto prices. - Competitors li
Trending news
MoreCrypto prices
More
