Tether Holdings, the company behind the world’s largest stablecoin USDT, is joining forces with Antalpha Platform Holding to raise at least $200 million for a groundbreaking venture centered on tokenized gold. The partnership aims to establish a public company that will hold Tether’s gold-backed digital asset, XAUt—blending the stability of gold with the transparency of blockchain.
We are proud to announce the expansion of our collaboration with @Tether_to, further integrating Tether Gold ($XAU₮) @tethergold into our RWA Hub.
— Antalpha Global (@AntalphaGlobal) September 29, 2025
Through this partnership, we will now offer $XAU₮-backed lending and full-stack infrastructure solutions, making digital gold more… pic.twitter.com/eXaGQpoY0N
Antalpha Global expands its partnership with Tether! $XAU₮-backed lending & full-stack digital gold solutions now live—making gold more liquid & accessible than ever.
According to sources familiar with the plan, the proposed digital-asset treasury would use the funds to purchase and store XAUt tokens, each representing ownership of physical gold bars. This approach bridges traditional commodities with modern financial technology, providing investors with a new way to access and trade gold. The collaboration deepens the relationship between Tether and Antalpha, which has close ties to Bitmain Technologies, one of the largest cryptocurrency mining hardware manufacturers.
Tether and Antalpha’s joint efforts build on their success with Tether Gold (XAUt), which now boasts a $1.5 billion market capitalization. Each XAUt token represents physical gold stored securely in vaults, giving investors the flexibility to own, trade, or redeem their holdings. Antalpha recently announced plans to expand this ecosystem by offering collateralized lending against XAUt and opening vaults in major financial hubs, allowing users to swap their digital tokens for real gold.
The timing is notable: global gold demand has surged 46% this year amid inflation concerns and economic uncertainty. This rising interest has helped Tether’s gold-backed token market cap double in 2024, signaling growing appetite for digital representations of tangible assets.
Beyond the gold initiative, Tether is reportedly pursuing up to $20 billion in new funding for its stablecoin operations, a move that could value the company at around $500 billion—placing it among the most valuable private firms globally.
Tether and Antalpha’s latest venture, however, highlights a growing convergence between precious metals and blockchain innovation. As digital finance evolves, tokenized gold funds could redefine how investors worldwide preserve value—merging the reliability of gold with the efficiency of crypto technology.
