Aurelion Treasury launches Nasdaq’s first Tether Gold-backed reserve

Nasdaq-listed wealthiness and plus absorption services supplier Prestige Wealth is rebranding to Aurelion Treasury to motorboat the Nasdaq’s archetypal Tether Gold-backed firm treasury arsenic much Wall Street companies research integer plus offerings.

To motorboat Nasdaq’s archetypal Tether Gold (XAUT) treasury, the institution announced the closure of a $100 cardinal Private Investment successful Public Equity (PIPE) financing circular from anchor capitalist Antalpha Platform Holding Company and different accredited investors, including TG Commodities S.A. de C.V. (Tether), the institution said Friday.

The institution besides secured a three-year, $50 cardinal elder indebtedness installation from Antalpha Management, bringing its full backing to $150 million, according to a filing with the US Securities and Exchange Commission.

Most of the proceeds volition beryllium utilized to get Tether Gold (XAUT) tokens arsenic Aurelion’s superior reserve asset, the institution said.

“I americium bullish connected bitcoin successful the agelong term, and I judge we request a stablecoin that tin combat ostentation and has the stableness to beryllium utilized for paying regular necessities similar energy bills,” said Björn Schmidtke, CEO of Aurelion, adding that helium sees Tether’s XAUT arsenic the “real integer gold.”

Prestige Wealth, PIPE financing filing. Source: SEC

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Aurelion’s motorboat positions it arsenic the archetypal Nasdaq-listed treasury to clasp Tether Gold successful reserve. The institution said it aims to marque XAUT “redeemable for carnal gold” implicit time, further bridging the spread betwixt tokenized assets and tangible commodities.

“Digital assets volition beryllium much tangible to galore erstwhile 1 tin locomotion into a jewelry store and redeem a golden barroom with Tether Gold (XAU₮),” said Paul Liang, main fiscal serviceman of Antalpha, the genitor institution of Aurelion. 

Tether XAUT redemptions. Source: gold.tether.to

Tether’s XAUT tokens are presently redeemable for carnal gold, but users request to person astatine slightest 430 XAUT to redeem for 1 afloat golden bar, according to Tether.

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PWM banal soars 19% aft Tether treasury announcement

The pivot to a Tether golden treasury has benefited Prestige Wealth’s banal price, which roseate 19% connected Friday aft the announcement.

However, the company’s banal terms remains down implicit 94% since its launch, information from Yahoo Finance shows.

PWM, one-day chart. Source: Yahoo Finance

Subject to regulatory approvals, the institution is expected to debut its caller ticker awesome connected the Nasdaq (AURE), from Monday.

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