Overview

• Tether is working with Antalpha to raise at least $200 million for a digital asset treasury focused on tokenized gold, Bloomberg reported.
• The planned vehicle would stockpile XAUT, a blockchain token backed by physical gold bars stored in a Swiss vault.
• The companies recently announced an expanded partnership to create a hub for XAUT-backed lending, custody and token redemption.
• Antalpha said it intends to work with partners to open vaults in major financial centers to enable redemption of tokens for physical gold.
• XAUT is the largest tokenized-gold product with roughly $1.5 billion in market value, and Tether reported $8.7 billion of physical gold on its June balance sheet.