Prestige Wealth (PWM) said it has closed a $150 million financing round to launch a digital asset treasuryfocused on Tether Gold (XAUT), the gold-backed tokens of stablecoin giant Tether.

The funding includes a $100 million private placement led by Antalpha (ANTA), a prominent bitcoin mining financing firm that and $50 million in senior debt, .

Backers also include Tether and Kiara Capital.

Most of that capital will be used to acquire tokenized gold reserves, aiming to build a publicly verifiable, blockchain-native treasury. The company will rebrand to Aurelion pending approvals, and will start trading under the AURE ticker on Monday.

The stock spiked 35% pre-market following the news before giving back most of the gains during the early minutes of the session. The announcement followed Bloomberg's report last week on Antalpha and Tether a tokenized gold treasury company.

Tether Gold is a stablecoin tied 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 like cash or fiat stablecoins.

New Aurelion CEO Björn Schmidtke, who co-founded Paraguayan bitcoin miner Penguin Group, said the move reflects a shift toward digital assets backed by real-world value.

"In a world where money is moving digitally and market volatility remains real, having a foundation of real value in tokenized gold gives people and institutions certainty," 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 firm said it will aims to generate a modest yield by lending unencumbered gold holdings through Antalpha, while keeping a portion locked as collateral.

The company’s board and leadership have been reshaped following the transaction, with Antalpha gaining two board seats and forming a strategic advisory committee including Gemini’s Rohan Chauhan.