Prestige Wealth (PWM) said it closed a $150 million funding round to launch a digital asset treasury focused on stablecoin giant Tether’s gold-backed tokens.
The financing includes a $100 million private placement led by Antalpha (ANTA), a prominent bitcoin mining finance company, and $50 million in senior debt, according to a Friday announcement.
Sponsors also include Tether and Kiara Capital.
The majority of that capital will be used to acquire tokenized gold reserves, with the goal of building a publicly verifiable blockchain-native treasury. The company will change its name to Aurelion pending approvals and will begin trading under the symbol AURE on Monday.
The stock soared 35% premarket following the news before giving up most of the gains during the first few minutes of the session. The announcement followed last week’s Bloomberg report on Antalpha and Tether seeking to back a tokenized gold treasury company.
Tether Gold is a stablecoin pegged to physical gold, redeemable and traceable on-chain. Aurelion said it will hold these reserves in a transparent and auditable structure, offering an alternative to conventional reserves such as cash or fiat stablecoins.
Aurelion’s new CEO Björn Schmidtke, co-founder of Paraguayan bitcoin miner Penguin Group, said the move reflects a shift toward digital assets backed by real-world value.
“In a world where money moves digitally and market volatility remains real, having a basis of real value in tokenized gold provides certainty to people and institutions,” he said in the statement.
“Some people describe BTC as digital gold. I see Tether Gold, a redeemable stablecoin backed by gold, as the real digital gold.”
The company said it will aim to generate a modest return by lending unencumbered gold holdings through Antalpha, while keeping a portion locked up as collateral.
The company’s board and leadership have been reshuffled following the transaction, with Antalpha gaining two board seats and forming a strategic advisory committee that includes Gemini’s Rohan Chauhan.
