USDT Issuer Tether to launch the Tokenized Gold Treasury Firm with Antalpha: Report
Tether, the company behind USDT Stablecoin Working with the Crypto Miner Financing Firm Antalphal to raise at least $ 200 million for a new digital asset treasury for tokenized gold, Bloomberg reported on Friday, citing resources familiar with this matter.
The planned vehicle is stockpile a blockchain based Token Na -back by physical gold bars under caution in a Swiss vault. XAut is the Largest tokenized gold offers the market with nearly $ 1.5 billion market capitalization.
Antalpha is known as a major lender of the Bitmain Crypto mining equipment manufacturer, and offers a supply chain and margin loans.
The report follows a expanded cooperation Between Tether and Antalpha, announced on Monday, to launch a dedicated hub for services supported by XAut, precautions and token redemption services. Antalpha then said it plans to work with partners to open vaults to major financial hubs, allowing users to redeem digital tokens for physical gold.
Tether has expanded beyond the release of the flagship of the USDT token, the largest stablecoin boasting a $ 174 billion supply, with investments covering Bitcoin Mining, payment, energy and artificial intelligence (AI). It is a investor investor, next to Bitfinex, where it shares major executives and owners, and softbank, at the Bitcoin Treasury firm XXI Capital Launched earlier this year. Tether has also been reported looking To raise funds with a $ 500 billion appreciation to make its expansion.
Paolo Ardoino, CEO of Tether, became a gold proponent voice as a hard asset, the company held $ 8.7 billion in yellow metal on its balance sheet, according to its June of testimony.
