Tether, the issuer of the popular USDT stablecoin, is collaborating with crypto financing firm Antalpha to create a new treasury focused on tokenized gold. This initiative aims to raise at least $200 million to support the acquisition and management of Tether Gold (XAUT), a gold-backed digital asset. The announcement was made in a report by Bloomberg, citing sources familiar with the venture.
The partnership follows Antalpha’s recent launch of lending and infrastructure tools specifically designed for Tether Gold. Antalpha, recognized as a significant lender to the Chinese mining hardware manufacturer Bitmain, plans to establish a dedicated hub for XAUT-backed lending, custody, and token redemption services. This new treasury will allow users to convert digital tokens into physical gold, providing a seamless link between the digital and physical asset markets.
Paolo Ardoino, CEO of Tether, has expressed strong support for gold as a stable asset class. This sentiment aligns with Tether’s broader strategy of diversifying its investments beyond just the USDT token, which boasts a supply of $174 billion. The company’s investment portfolio now includes ventures in sectors such as bitcoin mining, payments, energy, and artificial intelligence.
As part of this initiative, Antalpha is expected to collaborate with partners to establish vaults in major financial centers. These vaults will facilitate the storage of gold, enhancing the credibility and accessibility of Tether Gold for investors. The move signals Tether’s ambition to solidify its position in the digital asset landscape by providing secure alternatives to traditional investments.
Tether’s recent activities reflect a growing interest in integrating physical assets with digital currencies, as the company continues to expand its influence in the cryptocurrency market. It is noteworthy that Tether held approximately $8.7 billion in gold on its balance sheet, reinforcing its commitment to maintaining a robust and diverse asset portfolio.
The collaboration with Antalpha marks a significant step for both companies, as they navigate the evolving landscape of digital finance. With increasing regulatory scrutiny and market competition, such partnerships may prove essential in driving innovation and confidence in tokenized assets.
As the cryptocurrency industry continues to mature, Tether’s focus on gold-backed assets could attract a new wave of investors seeking stability in a volatile market. The demand for tokenized gold is expected to grow, particularly among those looking to hedge against inflation and economic uncertainty.
In summary, Tether’s partnership with Antalpha to create a tokenized gold treasury highlights a strategic move to deepen its presence in the digital asset space while offering investors tangible value through gold-backed tokens. This initiative is poised to enhance the accessibility of gold as an investment while also expanding Tether’s innovative offerings in the evolving financial landscape.