Tether and Antalpha are reportedly collaborating to establish a Digital Asset Treasury (DAT) backed by Tether's gold-backed token, XAUT. Sources indicate the firms aim to raise approximately $200 million for this initiative, which will store XAUT, a token with a current market cap of $1.45 billion. Unlike traditional treasuries that typically hold cryptocurrencies such as Bitcoin and Ethereum, this DAT will focus on tokenized gold. Cohen & Co. is reportedly advising on the project. Despite the growing value of tokenized gold, it has not yet reached the mainstream adoption levels of fiat-pegged stablecoins.