Prestige Wealth (PWM) announced that it has closed a $150 million funding round to launch a digital asset treasury focused on the gold-backed tokens of stablecoin giant Tether.
The financing includes a $100 million private placement led by Antalpha (ANTA), a leading Bitcoin mining finance company, and $50 million in senior debt, according to an announcement on Friday.
Backers also include Tether and Kiara Capital.
The majority of this capital will be used to acquire tokenized gold reserves, with the aim of building a publicly verifiable, blockchain-native treasury. The company will be renamed Aurelion pending approvals and will begin trading under the symbol AURE on Monday.
The stock soared 35% premarket following the news before giving back most of the gains in the first minutes of the session. This announcement follows Bloomberg’s report last week on Antalpha and Tether seeking to back a tokenized gold treasury company.
Tether Gold is a stablecoin tied to physical gold, tradable and traceable on-chain. Aurelion said it would hold these reserves in a transparent and verifiable structure, providing an alternative to conventional reserves like cash or fiat stablecoins.
New Aurelion CEO Björn Schmidtke, who co-founded Paraguayan bitcoin miner Penguin Group, said the move reflected a shift toward digital assets backed by real value.
“In a world where money moves digitally and market volatility remains real, having a real value basis in tokenized gold provides certainty to people and institutions,” he said in the release.
“Some people describe BTC as digital gold. I consider Tether Gold, a tradable stablecoin backed by gold, to be the true digital gold.”
The company said it would aim to generate a modest return by lending unencumbered gold holdings through Antalpha, while keeping a portion locked up as collateral.
The company’s board and management were reshaped following the transaction, with Antalpha gaining two board seats and forming a strategic advisory committee including Gemini’s Rohan Chauhan.
