Tether Gold recognised by ADGM
ADGM's regulator has recognised Tether Gold (XAU₮) as an Accepted Spot Commodity, letting authorised firms offer the gold-backed token.
Tether Gold (XAU₮) has been recognised as an Accepted Spot Commodity by the Financial Services Regulatory Authority within Abu Dhabi Global Market (ADGM). The recognition lets firms in ADGM offer XAU₮, subject to their own regulatory permissions.
Tether Gold is issued by TG Commodities Limited, with each full XAU₮ token representing one troy fine ounce of gold on a London Good Delivery bar that can be traded or transferred on-chain at any time.
The recognition builds on the FSRA's earlier approval of USD₮ as an Accepted Fiat Referenced Token in ADGM, expanding the range of Tether products authorised firms can now support.
Paolo Ardoino, CEO of Tether, said: "This is an important step for tokenised real-world assets and for the growth of practical, regulated digital finance in the Middle East."
Tokenised real-world assets now represent more than billion in distributed asset value, up from roughly .6 billion a year earlier, according to rwa.xyz data cited in Tether's release.
XAU₮ applies that same model to gold, combining physical backing with the speed and portability of a digital token, and Tether says it will continue working with regulators, licensed firms and partners across the UAE and wider region.