According to Bloomberg, Tether and the financial service company Antalpha Platform Holding, which closely collaborates with the crypto assets miner Bitmain, are raising at least $200 million for a digital asset finance company (DAT) to reserve Tether's gold token XAUt.
Tether collaborates with Bitmain's financing partner Antalpha.
Antalpha Platform Holding, which collaborated with Tether, went public on Nasdaq in May this year under the stock code ANTA. It is a Crypto Assets fintech company focused on providing financing, technology, and risk management solutions for Bitcoin Miners.
Headquartered in Beijing, Bitmain ( supplies about 82% of the global Crypto Assets mining machines, and Antalpha is officially recognized by Bitmain as its main financing partner. Both parties have signed a memorandum, agreeing that as long as Antalpha provides competitive conditions, Bitmain will prioritize recommending its clients to use Antalpha's financing services. Additionally, Tether also subscribed for 8.1% of Antalpha's shares during its IPO.
Antalpha began its business of Tether's gold token XAU₮ at the beginning of this year and recently launched the Antalpha RWA Hub, a platform focused on providing liquidity and services for gold as a real-world asset )RWA(. The Antalpha RWA Hub supports custody and purchase of XAU₮ and offers XAU₮ collateralized lending services, allowing customers to borrow against pledged XAU₮, thereby enhancing the liquidity and capital efficiency of their XAU₮.
) Tether Gold Stablecoin XAUT has a market value of 770 million USD, and Crypto Assets can also be invested in gold (.
To facilitate gold exchange, Antalpha RWA Hub plans to establish physical vaults in major financial centers around the world and collaborate with local partners to achieve physical gold bar exchanges with XAU₮.
Following Bitcoin financial company Twenty One Capital, is Tether venturing into gold reserve companies?
With the recent rise of digital asset financial company )DAT(, Tether, in addition to collaborating with SoftBank to establish a Bitcoin financial company called Twenty One Capital )XXI(, insiders claim that Tether is raising at least 200 million USD with Antalpha Platform Holding for a so-called digital asset financial company to reserve Tether's gold token XAUt, which will become the first digital gold reserve strategy company.
)Twenty One additional issuance, holding over 43,500 coins will be traded under “XXI” (
This article discusses how gold continues to hit new highs and whether Tether is preparing to enter the digital gold reserve company market. It first appeared in Chain News ABMedia.
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