Media: Crypto giant Tether launches a new project with Antalpha – $200 million in XAut gold assets

Issuer of the largest stablecoin usdt company Tether Together with Singapore Antalpha Platform Holding intend to attract at least $200 million To create a new structure that will manage digital asset management and token buying xutprovided with gold.

It is reported Bloomberg With reference to sources familiar with the situation.

Tether and Antalpha create a new digital active trust

According to the publication, in the event of a successful launch, the company will use capital to Accumulation of XAut tokens, which are ‘digital gold’ – stablecoin, fully provided with physical gold.

Antalpha Platform is a strategic partner Bitmain Technologies, one of the world’s largest manufacturers of mining equipment.

According to Cambridge Business School, it is on Bitmain that more than 80% of the global volume ASIC production for Bitcoin mining.

Tether has previously invested in Antalpha – in May the company acquired 8.1% shares partner after entering the stock exchange.

In September, firms announced new joint projectaimed at launching credit and infrastructure solutionsprovided with tokens xut.

How much does gold cost for XAut tokens?

in the second quarter of 2024 Tether said that it was in circulation Nearly 250,000 Tether Gold tokens (XAUT)provided with equivalent 7.66 tons of gold.

As of today, the XAUT market capitalization is about $1.46 billion, and the provision includes 966 gold bars total weight 11,693.4 kg, according to the official website of the project.

What is Tether Gold?

Tether Gold was launched in January 2020 and is Stablecoin tied to one troy ounce Physical gold standard London Good Delivery.

Each XAut token is confirmed by ownership of the real gold bar stored in Swiss vaults.

Gold and stablecoins: a look into the future

Co-founder Tether Reeve Collins said earlier that By 2030, all traditional currencies can be transformed into stablecoinsas digital assets become part of the global financial system.

his words reinforce the trend: tether actively Diversify reserves, including Investments in gold, bitcoin and US bonds, forming a ‘digital storage’ with elements of traditional stability.