Tether plans to raise $200 million to buy its gold token

Suehyeon Lee

Summary

Bloomberg reported that Tether is pursuing a plan to raise at least $200 million to purchase gold token asset (XAUt).
The fundraising is said to serve to strengthen ties among major companies such as Tether, Bitmain, and Antalpha within the digital asset industry.
Industry sources said this is seen as Tether expanding from stablecoins to include gold-backed token investment structures.

Stablecoin issuer Tether (USDT) has launched fundraising to purchase Tether's gold-tokenized asset 'XAUt' together with a financial firm closely linked to Bitmain.

On the 4th (local time), Bloomberg reported that Tether and Antalpha Platform Holding are pursuing a plan to raise at least $200 million to establish a digital asset treasury company. This company plans to use the raised funds to acquire Tether's gold token XAUt.

This collaboration is intended to further strengthen the connection between two influential companies in the digital asset industry. Tether is the world's largest issuer of the stablecoin USDT, and Bitmain, closely linked with Antalpha, supplies about 82% of the global cryptocurrency mining rig market.

It was reported that advisory firm Cohen & Co. is participating as the lead manager in this transaction. Industry observers said this is seen as Tether expanding its investment structure from stablecoins to gold-backed tokens.

XAUT