Prestige Wealth (PWM) stated it has closed a $150 million financing spherical to launch a digital asset treasuryfocused on , the gold-backed tokens of stablecoin large Tether.
The funding features a $100 million non-public placement led by Antalpha (ANTA), a outstanding bitcoin mining financing agency that and $50 million in senior debt, in line with an announcement on Friday.
Backers additionally embody Tether and Kiara Capital.
Most of that capital can be used to accumulate tokenized gold reserves, aiming to construct a publicly verifiable, blockchain-native treasury. The corporate will rebrand to Aurelion pending approvals, and can begin buying and selling beneath the AURE ticker on Monday.
The inventory spiked 35% pre-market following the information earlier than giving again a lot of the beneficial properties through the early minutes of the session. The announcement adopted Bloomberg’s report final week on Antalpha and Tether seeking to again a tokenized gold treasury firm.
Tether Gold is a stablecoin tied to bodily gold, redeemable and traceable on-chain. Aurelion stated it would maintain these reserves in a clear and auditable construction, providing a substitute for standard reserves like money or fiat stablecoins.
New Aurelion CEO Björn Schmidtke, who co-founded Paraguayan bitcoin miner Penguin Group, stated the transfer displays a shift towards digital belongings backed by real-world worth.
“In a world where money is moving digitally and market volatility remains real, having a foundation of real value in tokenized gold gives people and institutions certainty,” he stated within the assertion.
“Some people describe BTC as digital gold. I see Tether Gold, a redeemable stablecoin backed by gold, as the real digital gold.”
The agency stated it would goals to generate a modest yield by lending unencumbered gold holdings by means of Antalpha, whereas conserving a portion locked as collateral.
The corporate’s board and management have been reshaped following the transaction, with Antalpha gaining two board seats and forming a strategic advisory committee together with Gemini’s Rohan Chauhan.
