Tether Raises $200 Million for Tokenized Gold Fund, Expanding into Asset-Backed Tokens

Tether is launching a new tokenized gold treasury fund to raise $200 million in collaboration with Antalpha, a company with connections to Bitmain. This initiative seeks to boost the market cap of Tether’s gold token (XAUT), which has seen significant demand as an inflation hedge. 💰 Antalpha will provide infrastructure and custody services for this venture. Paolo Ardoino, Tether’s CEO, highlights that gold is a reliable safeguard against monetary instability, bridging the gap between physical value and blockchain technology. XAUT’s rising demand (up by 46%) is driving this shift toward asset-backed digital tokens in the crypto market.