Tether and Antalpha Gear Up to Raise $200 Million for Gold-Backed Treasury in XAUT Tether и Antalpha готовятся привлечь $200 миллионов для казначейства, обеспеченного золотом, в XAUT.

Tether and the Bitmain-affiliated financial firm Antalpha are seeking to raise $200 million for a fund that will create a treasury in Tether Gold (XAUT) stablecoin. This information comes from Bloomberg.

*“If successful, the company plans to utilize the capital to acquire XAUT, Tether’s gold-backed token,” the article states.*

Sources from the agency clarified that discussions regarding the funding are private, with Cohen & Co. serving as the lead consultant for the transaction.

Journalists believe that this partnership will bolster the existing relationships between the leading stablecoin issuer and the top mining equipment manufacturer. According to the Cambridge Business School, Bitmain accounts for 82% of global shipments of cryptocurrency mining rigs.

At the end of September, Antalpha announced the expansion of its collaboration with Tether, including lending offers secured by XAUT and other services related to the “golden” stablecoin through its RWA hub.

The firm has announced the establishment of physical storage facilities in major financial centers to facilitate the exchange of tokens for gold bars among investors. Previously, Tether acquired an 8.1% stake in Antalpha.

Since the beginning of the year, the price of the precious metal has risen by 48%, and the market capitalization of Tether Gold has more than doubled. As of this writing, there are 375,572 XAUT in circulation, valued at approximately $1.45 billion according to CoinGecko.

At the end of Q2, the market supply of the stablecoin was about 250,000 tokens, backed by 7.6 tons of gold.

By the end of September, the total capitalization of stablecoins exceeded $300 billion.

It’s worth noting that Tether is in talks with investors, including SoftBank and Ark Investment, regarding raising $20 billion at a valuation of $500 billion, according to Bloomberg.