Prestige Wealth Secures $150 Million to Launch Nasdaq’s First Tether Gold Treasury
Nasdaq-listed Prestige Wealth, soon to be renamed Aurelion, has acquired $134 million worth of Tether Gold as part of its broader strategy to establish a gold-backed digital asset treasury.
XAUT
Fact Check
Multiple credible financial news sources from the provided evidence directly corroborate the statement. They confirm that Prestige Wealth Inc. (which is rebranding to Aurelion Inc.) has secured $150 million in financing specifically to launch what is described as Nasdaq's first Tether Gold treasury.
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Summary
Prestige Wealth, a Nasdaq-listed company soon to be renamed Aurelion, has acquired $134 million worth of Tether Gold (XAUT) as part of its strategy to build a transparent, blockchain-backed treasury. The purchase, averaging $4,021.81 per token, was made after securing $150 million in funding led by Antalpha. Tether Gold represents physical gold reserves in Switzerland and holds around 7 metric tons of gold. The company plans to further integrate tokenized gold into the digital asset space, with the rebranding pending routine approvals.
Terms & Concepts
- Tether Gold (XAUT): A stablecoin issued by Tether, where each token is backed by one troy ounce of physical gold stored in a Swiss vault, enabling easy transfer and ownership of gold in digital form.
- Tokenized Gold: A digital asset that represents physical gold on a blockchain, facilitating fractional ownership and easy transfer while maintaining the intrinsic value of gold.
- Aurelion Inc.: The rebranded name of Prestige Wealth, which is focused on creating a digital asset treasury centered on Tether Gold (XAUT), with aims to offer a transparent and auditable structure for gold-backed reserves.