- Tether seeks $200 million for a tokenized gold treasury.
- Partners with Antalpha for infrastructure support.
- XAUT demand up, impacting institutional investment.
This venture signifies Tether’s expansion into tokenizing real-world assets and could influence gold’s value on the blockchain.
Tether plans to raise $200 million to establish a new tokenized gold treasury vehicle, partnering closely with Antalpha. Antalpha is recognized for its link with Bitmain and will provide infrastructure and custody services.
The fundraising effort targets amplifying the Tether Gold (XAUT) market cap. Paolo Ardoino, Tether’s CEO, emphasized that gold is a hedge against monetary instability, bridging physical value with blockchain technology. As Ardoino notes,
“Gold remains the ultimate hedge against monetary instability. Tether’s gold-backed token XAUT bridges the tangible value of physical reserves with blockchain accessibility.”
With the introduction of this initiative, institutions express increased interest in XAUT, which saw a 46% surge in demand as an inflation hedge, as detailed in Tether’s report on XAUT. This move indicates a shift toward asset-backed tokens in the digital currency space.
Tether’s broader ambitions include tapping into the stablecoin and asset-backed markets significantly. Cohen & Co. advises on treasury structuring, aiming for substantial institutional and retail engagement in this new financial solution.
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