Nasdaq-listed wealth and asset administration companies supplier Status Wealth is rebranding to Aurelion Treasury to launch the Nasdaq’s first Tether Gold-backed company treasury as extra Wall Road firms discover digital asset choices.
To launch Nasdaq’s first Tether Gold (XAUT) treasury, the corporate introduced the closure of a $100 million Non-public Funding in Public Fairness (PIPE) financing spherical from anchor investor Antalpha Platform Holding Firm and different accredited traders, together with TG Commodities S.A. de C.V. (Tether), the corporate said Friday.
The corporate additionally secured a three-year $50 million senior debt facility from Antalpha Administration, bringing its whole funding to $150 million, according to a submitting with the US Securities and Trade Fee.
A lot of the proceeds might be used to accumulate Tether Gold (XAUT) tokens as Aurelion’s main reserve asset, the corporate mentioned.
“I’m bullish on bitcoin in the long run, and I consider we want a stablecoin that may battle inflation and has the soundness for use for paying day by day requirements like electrical energy payments,” mentioned Björn Schmidtke, CEO of Aurelion, including that he sees Tether’s XAUT because the “actual digital gold.”
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Aurelion’s launch positions it as the primary Nasdaq-listed treasury to carry Tether Gold in reserve. The corporate mentioned it goals to make XAUT “redeemable for bodily gold” over time, additional bridging the hole between tokenized belongings and tangible commodities.
“Digital belongings might be extra tangible to many when one can stroll into a jewellery retailer and redeem a gold bar with Tether Gold (XAU₮),” mentioned Paul Liang, chief monetary officer of Antalpha, the mother or father firm of Aurelion.
Tether’s XAUT tokens are presently redeemable for bodily gold, however customers must have a minimum of 430 XAUT to redeem for one full gold bar, in response to Tether.
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PWM inventory soars 19% after Tether treasury announcement
The pivot to a Tether gold treasury has benefited Status Wealth’s inventory value, which rose 19% on Friday after the announcement.
Nevertheless, the corporate’s inventory value stays down over 94% since its launch, knowledge from Yahoo Finance shows.
Topic to regulatory approvals, the corporate is predicted to debut its new ticker image on the Nasdaq (AURE), from Monday.
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