Tether Launches $200 Million Gold-Backed Token Vehicle with Antalpha

Crypto finance firm Antalpha, known for its ties to Bitcoin mining giant Bitmain, will partner with Tether on a new gold-backed token vehicle. The venture aims to raise at least $200 million and invest it in a digital asset treasury stocked with tokenized gold. This move follows the growing demand for blockchain-based commodities like gold as investors seek liquidity and stability in their investments. Tether’s XAU₮ token, backed by bullion held in Swiss vaults, will form the foundation of this vehicle.