Tether and Antalpha Seek $200 Million for Tether Gold Treasury

Tether and Antalpha plan to raise $200 million for a Tether Gold treasury.

Tether and the Bitmain-affiliated financial firm Antalpha aim to raise $200 million for an entity that will establish a treasury in the stablecoin Tether Gold (XAUT), according to Bloomberg.

“If successful, the company will use the capital to accumulate XAUT, Tether’s gold-backed token,” the article states.

Sources indicated that the funding negotiations are confidential, with Cohen & Co. serving as the lead advisor on the deal.

Journalists suggest that the partnership will strengthen existing ties between the largest issuer of “stablecoins” and the leading producer of mining equipment. According to data from the Cambridge University Business School,

Bitmain accounts for 82% of global cryptocurrency mining equipment shipments.

In late September, Antalpha announced an expansion of its collaboration with Tether, including lending offerings backed by XAUT and other services related to the “gold” stablecoin through its RWA hub.

We are proud to announce the expansion of our collaboration with @Tether_to, further integrating Tether Gold ($XAU₮) @tethergold into our RWA Hub.

Through this partnership, we will now offer $XAU₮-backed lending and full-stack infrastructure solutions, making digital gold more… pic.twitter.com/eXaGQpoY0N

— Antalpha Global (@AntalphaGlobal) September 29, 2025

The firm announced the creation of physical vaults in major financial centers to facilitate the exchange of tokens for gold bars by investors. Previously, Tether acquired an 8.1% stake in Antalpha.

Since the beginning of the year, the price of the precious metal has risen by 48%, while the market capitalization of Tether Gold has more than doubled. At the time of writing, there are 375,572 XAUT in circulation, valued at approximately $1.45 billion (CoinGecko).

By the end of the second quarter, the market supply of the stablecoin was about 250,000 tokens, backed by 7.6 tonnes of gold.

At the end of September, the total capitalization of “stablecoins” exceeded $300 billion.

As reported by Bloomberg, Tether is in talks with investors, including SoftBank and Ark Investment, to raise $20 billion at a valuation of $500 billion.