Prestige Wealth Raises $150M for NASDAQ’s First Tether Gold Treasury
Prestige Wealth Inc. (NASDAQ: $PWM) said Friday it has signed and closed approximately USD 150 million in financing to establish what it calls NASDAQ’s first Tether Gold (CRYPTO: $XAUT) Treasury, under the corporate name “Aurelion.”
The financing package includes a USD 100 million PIPE led by anchor investor Antalpha Platform Holding Company (NASDAQ: $ANTA), alongside institutional participants such as Tether and Kiara Capital, plus a USD 50 million senior debt facility.
Under the plan, most net proceeds will be allocated toward acquiring Tether Gold tokens to serve as the company’s primary treasury reserve asset.
Prestige Wealth also confirmed that, contingent on regulatory approvals, it will rebrand itself Aurelion Inc., beginning October 13, 2025, and adopt the new ticker AURE on NASDAQ.
Björn Schmidtke, a longtime bitcoin miner, will assume the role of CEO following the transaction.
In remarks to investors, the company framed the move as bridging the gap between traditional value assets and tokenized financial infrastructure. It described the initiative as part of its mission to offer “a fully backed gold digital reserve that can be verified on-chain every day.”
Analysts characterize the deal as ambitious. Moving into a treasury model based on a gold-backed stablecoin — rather than typical crypto assets — is relatively novel among public companies.
Prestige Wealth (PWM) shares last traded at US$1.04, up roughly 11.9% on the day