Tether and Antalpha Forge Golden Bridge Between Blockchains and Gold Vaults
Tether and AntalphaANTA-- Platform Holding Company (NASDAQ: ANTA) have announced a strategic expansion of their collaboration to develop a tokenized gold treasury, with TetherUSDT-- seeking to raise at least $200 million for a digital asset treasury (DAT) focused on accumulating XAU₮, its gold-backed token. The initiative, reported by Bloomberg and The Block, aims to establish a dedicated vehicle to stockpile XAU₮, which represents one troy ounce of physical gold stored in Swiss vaults. The move aligns with Tether's broader strategy to diversify beyond its flagship USDTUSDT-- stablecoin, which has a $174 billion supply, and into tangible asset-backed products.
The XAU₮ token, issued by TG Commodities, S.A. de C.V., is an ERC-20 token on the EthereumETH-- blockchain, offering investors exposure to gold prices while retaining the liquidity and divisibility of digital assets. Each token is backed by a London Good Delivery gold bar, with unique serial numbers for traceability and redemption capabilities. As of the second quarter of 2025, Tether reported 250,000 XAU₮ tokens in circulation, equivalent to 7.66 tons of gold. Antalpha, a Singapore-based fintech firm, has already launched the Antalpha RWA Hub, a platform providing custody, purchase, and collateralized lending services for XAU₮. The hub also plans to establish physical vaults in major financial centers to enable seamless redemption of tokens for physical gold bars[1].
Tether's partnership with Antalpha builds on an expanded collaboration announced in September 2025, under which Antalpha will offer XAU₮-backed lending solutions and full-stack infrastructure. Paul Liang, CFO of Antalpha, emphasized the initiative's role in enhancing the liquidity and utility of XAU₮, stating that the ability to redeem tokens at jewelry stores or other physical locations would make digital assets "more tangible" to users[1]. Paolo Ardoino, CEO of Tether, highlighted gold's historical role as a store of value and noted that the partnership would expand XAU₮'s adoption as a hedge, liquidity source, or long-term investment[1].
The $200 million fundraising effort is positioned to accelerate the development of XAU₮'s ecosystem, which has seen growing institutional interest amid inflation concerns and portfolio diversification trends. Antalpha's RWA Hub already facilitates XAU₮ collateralized lending, allowing clients to borrow against their token holdings without liquidating their gold positions[3]. This structure addresses liquidity challenges in the digital gold market, enabling investors to maintain exposure to gold price movements while accessing capital for other opportunities.
Tether's foray into tokenized gold follows its earlier investments in bitcoinBTC-- treasury companies, including its lead role in XXI Capital, a venture launched in 2024. The company's balance sheet currently holds $8.7 billion in gold, according to its June attestation. Antalpha, which previously partnered with Tether on XAU₮ infrastructure, also owns an 8.1% stake in the DAT project. The collaboration underscores the growing convergence of traditional commodities and blockchain technology, with XAU₮'s $1.5 billion market capitalization making it the largest tokenized gold offering.
The partnership's success will depend on regulatory clarity and market adoption. Antalpha's plans to establish physical redemption vaults in key financial hubs-executed through local partners-aim to bridge the gap between digital and physical gold markets[1]. Tether's strategic pivot to asset-backed tokens reflects broader trends in the digital asset sector, where real-world assets (RWAs) are increasingly being tokenized to enhance accessibility and efficiency.
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