Tether, Antalpha to raise $200M for gold tokenization treasury

Tether is partnering with financial services firm Antalpha to raise $200 million for a new cryptocurrency treasury based on tokenized gold, CoinDesk reported. The new treasury is expected to operate by holding reserves of Tether's gold-pegged stablecoin, XAUT. XAUT is a blockchain-based token backed by physical gold stored in Swiss vaults and currently has a market capitalization of approximately $1.5 billion.