Tether, Antalpha Seek $200M for Tokenized Gold Treasury Initiative

Tether and crypto miner lender Antalpha are seeking to raise at least $200 million for a new digital asset treasury vehicle focused on tokenized gold, Bloomberg reported Friday , citing people familiar with the ￰0￱ Takeaways: Tether and Antalpha are raising $200 million to build a tokenized gold treasury centered on ￰1￱ initiative deepens their partnership as gold demand climbs and tokenized commodities gain ￰2￱ continues expanding beyond stablecoins with strategic bets in mining, AI, and tokenized ￰3￱ effort aims to stockpile XAUt, Tether’s blockchain-based gold token, backed by physical bars stored in a Swiss ￰4￱ successful, the capital raise would strengthen ties between two of the digital asset industry’s most prominent players.

Tether, Antalpha Join Forces Amid Crypto-Mining and Stablecoin Dominance Tether is the issuer of USDT, the largest stablecoin by market cap, while Antalpha is closely tied to Chinese mining giant Bitmain, which produces over 80% of global Bitcoin mining hardware. XAUt, launched by a Tether subsidiary in 2020, has grown to a market cap of nearly $1.5 ￰5￱ planned vehicle would act as a publicly visible treasury focused solely on accumulating this ￰6￱ follows an expanded partnership between Tether and Antalpha announced last week, which introduced new services such as XAUt-backed lending, custody, and token ￰7￱ said it plans to open vaults in global financial hubs, allowing token holders to redeem their digital assets for physical ￰8￱ are proud to announce the expansion of our collaboration with @Tether_to , further integrating Tether Gold ($XAU₮) @tethergold into our RWA ￰9￱ this partnership, we will now offer $XAU₮-backed lending and full-stack infrastructure solutions, making digital gold more… ￰10￱ — Antalpha Global (@AntalphaGlobal) September 29, 2025 Tether has been pushing far beyond stablecoins in recent years, with investments in Bitcoin mining, AI, payments infrastructure, and tokenized ￰11￱ CEO, Paolo Ardoino, is a strong advocate of gold as a store of value, and the company held $8.7 billion worth of gold on its balance sheet as of ￰12￱ the same time, Tether is reportedly seeking to raise $20 billion in a separate effort to scale its core USDT operations, a deal that would value the company near $500 ￰13￱ gold-backed initiative arrives as demand for gold ￰14￱ gold investment is up 46% this year amid geopolitical tension and inflation fears, according to Bloomberg.

XAUt’s market cap has doubled in that time, per CoinGecko ￰15￱ than 80 digital asset treasury firms have been formed in 2025, many using reverse mergers or SPAC structures to mimic Strategy Inc.’s public Bitcoin ￰16￱ Rejects IPO Route Even as Circle’s Stock Soars Tether’s focus on gold comes as competition heats up. Circle, which went public in June , has seen its stock surge over 500% since its debut. Tether, however, has no plans to follow suit. “In general we are not interested in becoming a public company,” Ardoino said in ￰17￱ new legislation appears to be opening doors that were previously shut.

Ardoino, along with other crypto executives, attended the White House bill ￰18￱ law could, for the first time, help normalize stablecoin usage, both in crypto trading and across mainstream financial ￰19￱ has long been under fire for a lack of transparency, particularly regarding its reserves. Audits, promised for years, have yet to materialize. However, Ardoino said the company has been in contact with auditing firms in recent weeks.