Tether, the company behind the USDT Stablecoin Works with the financing company of minors Crypto Antalpha to collect at least $ 200 million for a new digital asset treasure for Tokenized gold, Bloomberg reported on Friday, citing sources familiar with the issue.
The planned vehicle would store A blockchain-based token supported by physical gold bars in custody in a Swiss safe. Xaut is the largest token gold offer on the market with nearly $ 1.5 billion in market capitalization.
Antalpha is known as a key lender of the Chinese manufacturer of Bitmain cryptography operating equipment and offers loans of supply and margin chain.
The report follows an extended partnership between Tether and Antalpha, announced on Monday, to launch a dedicated center for the loan, guard and buyout services supported by Xaut. Antalpha said that she was planning to work with partners to open chefs in the main financial centers, allowing users to exchange digital tokens for physical gold.
Tether has extended beyond the emission of his flagship USDT token, the largest stable offering an offer of $ 174 billion, with investments extending to Bitcoin Mining, payments, energy and artificial intelligence (AI). He was a main investor, alongside Bitfinex, with whom he shared key executives and property, and SoftBank, in the Bitcoin XXI Capital cash company which was launched earlier this year. Tether will also seek to collect funds for an evaluation of $ 500 billion to feed its expansion.
Paolo Ardoino, CEO of Tether, was a vocal supporter of Gold as a hardct, the company held $ 8.7 billion in yellow metal in its balance sheet, according to its June attestation.
