Mentioned:
Tokenized gold is becoming one of the most exciting new themes in the traditional public markets. And now, Tether is launching a new company on the Nasdaq to go all in on accumulating more physical gold.
What’s happening:
- Prestige Wealth (NASDAQ: PWM) has raised $150M USD in equity and debt to begin purchasing Tether Gold’s token XAUT to hold directly as an asset
By the numbers:
- $100M USD was raised through an equity financing round and $50M USD was structured as a senior debt facility
- An additional $130M USD of growth capital could come into Prestige Wealth if all the warrants from the new financing round were to be exercised
Why it matters:
- The new strategic financing round was led by Antalpha (NASDAQ: ANTA) and Tether
Going deeper:
- Tether and Antalpha just recently formed a partnership to expand accessibility of the Tether Gold token through Antalpha’s RWA Hub platform as well as through opening up physical vaults in major cities to allow Tether Gold holders to redeem their tokens for physical gold
The intrigue:
- Tokenized gold has continued to come into focus on Wall Street, with Streamex Corp (NASDAQ. STEX) just recently launching a $100M USD pre-sale for their gold backed stablecoin GLDY
