Gold Exchange Enters the Digital Age: Antalpha Launches Physical Gold - XAU₮ Exchange Service in Hong Kong

Rhea-AI Summary

Antalpha (ANTA) announced a partnership with LBMA member Malca-Amit to launch a physical gold — Tether Gold (XAU₮) exchange service in Hong Kong starting Dec 12, 2025. The circulating market cap of XAU₮ rose from about $800M to $2.2B between July and December 2025. The service offers institutional bulk exchanges (minimum 2 kg), KYC-enabled subscriptions, and T+1 settlement for physical pickup in Hong Kong using Malca-Amit vaults and logistics. Antalpha said this integrates custodians, trading platforms, and lenders to convert digital gold into physical delivery, while warning of market volatility, custody, and regulatory risks.

Positive

• XAU₮ market cap rose from $800M to $2.2B in five months
• T+1 settlement enables physical gold pickup in Hong Kong
• Partnership with Malca-Amit, an LBMA full member custodian
• Institutional bulk exchanges available from Dec 12 with 2 kg minimum

Negative

• Service initially limited to physical delivery locations in Hong Kong
• Subject to applicable regulatory requirements across jurisdictions
• Service involves market volatility and custody risks for investors

Key Figures

XAU₮ market cap (July 2025) $800 million Circulating market capitalization in July 2025 (approximate, from article)

XAU₮ market cap current $2.2 billion Circulating market capitalization after growth over five months

Growth period 5 months Time from July 2025 for XAU₮ market cap increase

Settlement cycle T+1 business days Physical gold retrieval timeframe in Hong Kong

Minimum bulk exchange size 2 kg Minimum XAU₮ bulk exchange for qualified institutions

Service start date December 12 Launch date for qualified institutional XAU₮ bulk exchange services

ISO certification ISO 9001 Quality management certification held by Malca-Amit

Information security standard ISO 27001 Information security certification held by Malca-Amit

Market Reality Check

$10.21 Last Close

Volume Volume 988 is well below 20-day average 5,318 (relative volume 0.19x). low

Technical Price 10.21 trades below 200-day MA at 11.74 and about 63.17% under 52-week high 27.72.

Peers on Argus

Peers in Credit Services show mixed moves: notable decliners like LPRO -5.95% and MFIN -2.98% alongside modest gainers such as OPRT +1.12% and FOA +0.66%, suggesting stock-specific rather than broad sector momentum for ANTA.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 26	Strategic renaming/RWA	Positive	+1.7%	Aurelion rebrand tied to PIPE, debt facility, and XAU₮ RWA focus.
Nov 24	Share repurchase	Positive	+8.1%	Board-authorized <b>$10M</b> buyback supported by growth and balance sheet strength.
Nov 10	Earnings results	Positive	+6.7%	Q3 2025 revenue and net income growth with strong margins and guidance.
Nov 03	Earnings preview	Neutral	-4.2%	Announcement of upcoming Q3 results call and webcast logistics.
Oct 14	Crypto/treasury move	Positive	+2.2%	Subsidiary purchase of <b>$134M</b> XAU₮ and launch of RWA hub collaboration.

Pattern Detected

Recent Antalpha and related XAU₮-focused news has typically seen positive price reactions, especially around earnings, buybacks, and gold-linked strategic moves, with only one divergence on a neutral pre-earnings announcement.

Recent Company History

Over the last few months, Antalpha has aligned itself increasingly with Tether Gold (XAU₮) and tokenized gold themes. On Oct 14, 2025, a subsidiary purchase of $134M in XAU₮ and related treasury moves preceded further strategic activity, including Q3 2025 results on Nov 10 showing strong growth and guidance. A $10M share repurchase program announced on Nov 24 and Aurelion’s renaming and RWA positioning on Nov 26 reinforced this direction, providing context for today’s expansion of XAU₮ physical exchange infrastructure.

Market Pulse Summary

This announcement details Antalpha’s build-out of a XAU₮-to-physical gold exchange service in Hong Kong, supported by Malca-Amit’s LBMA-certified custody and T+1 settlement. It extends earlier initiatives around Tether Gold and tokenized gold strategies highlighted in prior filings and press releases. Investors may watch adoption levels, transaction volumes, and how this infrastructure complements Antalpha’s existing XAU₮ lending and liquidity offerings while considering operational, custody, and regulatory risks in VA and precious metals trading.

Key Terms

lbma regulatory

"Malca-Amit, an LBMA Full Member Custodian, to Establish an Asian Physical Exchange"

The LBMA (London Bullion Market Association) is the industry body that sets quality, storage and trading standards for physical gold and silver, acting like a referee and quality seal for bullion markets. Investors pay attention because LBMA standards and its approved vaults and bars make it easier to buy, sell and use precious metals as liquid, trusted assets—similar to how a stamp of approval makes a product widely accepted and easier to resell.

iso 27001 technical

"Malca-Amit holds both ISO 9001 (Quality Management) and ISO 27001"

ISO 27001 is an internationally recognized standard that sets out the best practices for managing and protecting sensitive information within an organization. It acts like a security blueprint, helping companies ensure data is kept safe from theft, loss, or damage. For investors, organizations with ISO 27001 certification demonstrate a strong commitment to information security, reducing the risk of data breaches that could impact business stability and reputation.

kyc regulatory

"Upon completing KYC verification, Antalpha’s clients can schedule physical exchanges"

KYC (Know Your Customer) is the routine of checks and questions that financial firms use to confirm who a client is, understand their financial profile, and spot risky or illegal activity. It matters to investors because it helps prevent fraud and money laundering, ensures companies follow the law, and protects the integrity of markets—think of it like an identity and background check a bank or airport runs before allowing access.

t+1 technical

"settlement cycle has been drastically reduced to T+1 business days"

t+1 is the settlement rule that a securities trade is finalized one business day after the trade date, meaning the buyer must pay and the seller must deliver the shares the next business day. For investors this matters because it speeds cash and stock movement, reducing the time funds are tied up and lowering the risk that a trade fails to settle; it also changes how quickly you can reuse proceeds, meet margin calls, or close positions.

stablecoin financial

"with comprehensive support for stablecoin settlement channels"

A stablecoin is a type of digital currency designed to keep its value steady, often by being backed by traditional assets like money or commodities. For investors, stablecoins offer a reliable way to move money quickly across digital platforms without the value fluctuations common with other cryptocurrencies, making them useful for saving, trading, or transferring funds with less risk of sudden losses.

AI-generated analysis. Not financial advice.

Antalpha Partners with Malca-Amit, an LBMA Full Member Custodian, to Establish an Asian Physical Exchange Network for Digital Gold (XAU₮) in Hong Kong 

SINGAPORE, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Against a backdrop of intensifying global macroeconomic volatility and geopolitical uncertainty, gold has once again solidified its status as a core value anchor. Antalpha today announced a strategic partnership with Malca-Amit, a leading custodian certified by the London Bullion Market Association (LBMA), to launch a seamless exchange service between Tether Gold (XAU₮) and physical gold in Hong Kong.

The circulating market capitalization of XAU₮ has surged from approximately $800 million to $2.2 billion in just five months since July, 2025. We believe this rapid growth marks the beginning of a significant paradigm shift: the transition of gold ownership from traditional physical storage to the digital age.

Top-Tier Security: Fortifying the Foundation with LBMA Standards

To provide the highest level of security for the underlying physical assets of XAU₮, Antalpha has partnered with Malca-Amit, a global leader in high-end asset custody. To further strengthen risk management, the two parties are consulting with one another on the establishment of a gold reserve mechanism designed to support dynamic inventory replenishment, creating a dual security barrier.

As a full member of the LBMA, Malca-Amit holds both ISO 9001 (Quality Management) and ISO 27001 (Information Security) certifications. Its facilities are authorized by the London Clearing House and possess LBMA-recognized qualifications for authoritative precious metals weighing and testing.

Antalpha’s Gold Strategy: Constructing Cycle-Resilient Infrastructure

The core asset driving this exchange revolution—Tether Gold (XAU₮)—is central to Antalpha’s systematic gold strategy. Much like Bitcoin, gold is a key store of value across economic cycles due to its scarcity and historical resilience.

Based on this consensus, Antalpha has continuously participated in the construction of the XAU₮ ecosystem in recent years. As an ecosystem partner of Tether Gold, Antalpha’s core business includes enhancing the XAU₮ market-making network, aggregating cross-exchange liquidity, and providing innovative collateralized lending solutions. Antalpha’s platform is dedicated to activating dormant gold assets and injecting sustained, deep liquidity into the market.

Currently, Antalpha is deploying physical vault nodes in major financial centers worldwide. By deeply linking custodians, trading platforms, and financial institutions, the company is building a "physical-digital" closed-loop ecosystem that integrates seamless asset exchange with trusted circulation.

A Revolution in Efficiency: From Weeks to One Day

Antalpha’s clients can now complete a direct subscription to XAU₮ facilitated by the Antalpha platform. Upon completing KYC verification, Antalpha’s clients can schedule physical exchanges immediately. Leveraging Malca-Amit’s high-standard global vault network and professional logistics system, the settlement cycle has been drastically reduced to T+1 business days, allowing clients to retrieve physical gold at designated locations in Hong Kong.

"Traditional physical gold trading is often burdened by high premiums and structural pain points regarding storage security and lack of liquidity," said Paul Liang, CFO of Antalpha. "Our deep collaboration with top-tier partners within the LBMA system aims to create a comprehensive solution that combines the high liquidity of digital assets with the physical security of traditional gold."

Starting December 12, subject to applicable regulatory requirements in the relevant jurisdictions, Antalpha will provide qualified institutional clients with XAU₮ bulk exchange services support (with a minimum of 2 kg), with comprehensive support for stablecoin settlement channels. Investors in Asia can take physical delivery directly in Hong Kong or opt for professional armored transport services for secure point-to-point delivery. Furthermore, the existing extensive global vault network lays the infrastructure foundation for expanding this exchange service footprint to global markets in the future.

This service involves VA and precious metals trading, which may be subject to market volatility, custody, and regulatory risks. Investors should consult a professional advisor.

About Antalpha

Antalpha is a leading fintech company specializing in providing financing, technology, and risk management solutions to institutions in the digital asset industry. Antalpha offers Bitcoin supply chain and margin loans through the Antalpha Prime technology platform, which allows customers to originate and manage their digital assets loans, as well as monitor collateral positions with near real-time data.

About Malca-Amit

Malca-Amit is a leading global provider of logistics, storage, and customs services for valuable goods (including gold) and is a core member of the LBMA. With its global network and highest security standards, it serves banks, financial institutions, mining companies, and jewelers worldwide.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about Antalpha' s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Antalpha s filings with the SEC. All information provided in this press release is as of the date of this press release, and Antalpha does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contacts

Investor Contact: ir@antalpha.com

FAQ

What does Antalpha's XAU₮ exchange service (ANTA) launched Dec 12, 2025 provide?

It enables institutional bulk exchanges of Tether Gold (XAU₮) for physical gold with T+1 settlement and Hong Kong pickup.

What is the minimum amount for Antalpha's XAU₮ bulk exchange in Hong Kong?

The minimum bulk exchange supported is 2 kg of physical gold for qualified institutional clients.

How quickly can clients retrieve physical gold via Antalpha's new service?

Clients can schedule pickup after KYC and expect T+1 business day settlement for Hong Kong delivery.

Which custodian does Antalpha use for the XAU₮ physical exchange and why does it matter?

Antalpha partnered with Malca-Amit, an LBMA full member with ISO 9001 and ISO 27001 certifications, to secure physical custody and logistics.

Can investors outside Hong Kong take physical delivery through Antalpha's XAU₮ service?

Currently physical delivery is offered in Hong Kong, with plans to expand using the existing global vault network over time.

What investor risks does Antalpha disclose for the XAU₮ physical exchange (ANTA)?

Antalpha cites market volatility, custody, and regulatory risks and advises consulting a professional advisor.