Tether Raises $200 Million to Fund Gold-Backed Token Reserve

Tether, a prominent cryptocurrency company, is launching a new initiative by seeking $200 million for the creation of a tokenized gold reserve called XAU₮. The initiative leverages partnerships with Antalpha and Bitmain’s connections for infrastructure support. This move aims to expand Tether’s involvement in real-world assets, potentially impacting stablecoin markets and attracting institutional investors. 💰 The fund will be used to develop the XAU₮ tokenized gold reserve, which will be stored securely in Swiss vaults. This initiative holds significant potential to reshape how digital finance interacts with physical assets.