According to a recent report, the world’s largest stablecoin company, Tether, and a partner firm are looking to raise capital for a digital asset treasury company that would accumulate its tokenized gold.
Bloomberg revealed that Antalpha Platform Holding has close ties to Bitmain Technologies, the world’s largest Bitcoin hardware supplier based in China. According to a report from the University of Cambridge Judge Business School, the Bitcoin hardware manufacturer supplies about 82% of the world’s crypto mining machines.
Furthermore, the report revealed that asset manager Cohen & Company is the lead advisor on the deal, with further talks kept private. While most parties declined to comment, Tether reportedly pointed out a post on the social media platform X about its recent announcement with Antalpha.
This move to offer XAUT-backed lending came after Tether had purchased an 8.1% stake in Antalpha during its initial public offering (IPO) earlier in May 2025.
At the same time, Tether owns the largest dollar-backed stablecoin and the fourth-largest digital asset in the cryptocurrency market, with a market cap of more than $175 billion.
