Antalpha, a Hong Kong-based fintech firm specializing in blockchain finance, has executed a landmark $134 million purchase of Tether Gold (XAU₮) as part of its Reserve 2.0 initiative. The transaction, completed on October 14, 2025, through its Nasdaq-listed subsidiary Prestige Wealth—soon to be renamed Aurelion (NASDAQ: AURE)—represents one of the largest institutional acquisitions of tokenized gold to date. XAU₮ tokens were bought at an average price of $4,021 to $4,022 per ounce, anchoring Aurelion's position as Nasdaq's first treasury backed by tokenized gold.
The deal follows Aurelion's recent $150 million financing round, which included $100 million in private investment in public equity (PIPE) and $50 million in debt funding. Antalpha contributed $43 million to the PIPE, securing a controlling voting stake in Aurelion. Under the agreement, Aurelion may lend unencumbered XAU₮ holdings to Antalpha as collateral, with Antalpha assuming credit or default risk and compensating Aurelion with a technology service fee. This structure highlights the growing use of tokenized real-world assets (RWAs) as on-chain collateral.
Antalpha's deepening collaboration with Tether, the issuer of USDT and Tether Gold, is central to this move. Tether holds an 8.1% stake in Antalpha, and the firms previously explored raising up to $200 million for a gold-backed digital asset treasury. Tether Gold, with a market capitalization of approximately $1.5 billion, represents digital ownership of physical gold stored in Switzerland, blending gold's stability with blockchain transparency.
Björn Schmidtke, CEO of Aurelion, stated that the acquisition redefines modern digital asset treasuries by combining gold's stability with blockchain efficiency, offering regulatory compliance, yield potential, and daily on-chain verification. He emphasized that tokenized gold serves as a safe haven against inflation and crypto volatility. Paul Liang, Antalpha's CFO, noted that the partnership will enhance Tether Gold's liquidity and accessibility, with plans to expand through the Antalpha RWA Hub. Analysts project the tokenized RWA sector could surpass $20 billion by 2026, positioning Antalpha as a frontrunner in bridging traditional finance and blockchain ecosystems.
