Tether is teaming up with Antalpha to raise $200 million for a new digital asset treasury for tokenized gold. The venture will focus on Tether Gold (XAUT), the largest tokenized gold offering with a market capitalization of $1.5 billion, backed by physical gold bars in a Swiss vault.

Antalpha, a major lender for Bitmain, is collaborating with Tether to launch a hub for XAUT-backed lending, custody, and token redemption services. Plans include opening vaults in financial hubs to allow users to exchange digital tokens for physical gold.

Tether, known for issuing USDT stablecoin and investing in various sectors, is expanding its reach with investments in bitcoin mining, payments, energy, AI, and gold. The company aims to raise funds at a $500 billion valuation to support its growth, led by CEO Paolo Ardoino’s advocacy for gold as a hard asset.

Read more at Yahoo Finance: Tether Looking to Launch Tokenized Gold Treasury Firm With Antalpha Raising $200M: Report