The giant Tether (USDT) is making no secret of its ambitions: it plans to promote its gold-backed token, XAUt. To do so, it will soon launch a treasury company in partnership with Antalpha.
Tether bets on gold with its XAUt stablecoin
Tether has launched a partnership with Antalpha, a financial services company close to the crypto mining sector, according to sources interviewed by Bloomberg. Their goal is to create a public investment vehicle to accumulate XAUT, Tether’s gold-backed stablecoin.
Antalpha is close to Bitmain, one of the world’s most powerful BTC mining companies, supplying 82% of the world’s mining machines. The move would therefore have two advantages for Tether: promoting its XAUT while continuing to invest in the mining sector.
The target fundraising amount is set at $200 million, in order to accumulate XAUT. At this stage, the stablecoin’s capitalization exceeds $1.5 billion. It is currently the most capitalized gold stablecoin.
XAUT, Tether’s next big success?
A few days ago, Tether CEO Paolo Ardoino highlighted the unprecedented performance of gold, which has been breaking record after record since the beginning of the year. He emphasized the role of the yellow metal as a safe-haven asset:
The price of gold is breaking historical records almost every day, while the future stability of the world remains uncertain. Tether Gold (XAUT) is the best way to transfer, hold, and trade gold.
The price of an ounce of gold is about to break through the psychological threshold of $4,000, which has never happened before. Tether is therefore positioning itself at a key moment, when geopolitical uncertainty has only served to consolidate the status of the yellow metal.
The move also highlights the diversification of Tether’s services, which has been ramping up its initiatives in recent months. The company has invested in artificial intelligence, renewable energy, neurotechnology, commodities, and more.
This voracious appetite is based on colossal revenues. For 2024, Tether announced a net profit of $13 billion. For the second quarter of 2025, it also reported record profits of $5.2 billion. The machine is well and truly in motion.
