Tether Gold gains spot commodity status in Abu Dhabi
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- Tether Gold (CRYPTO:XAUT) is now an accepted spot commodity in Abu Dhabi Global Market.
- The recognition allows eligible financial firms to use XAUT in regulated commodity activities.
- The move expands regulated access to tokenised gold in the Middle East.
Tether Gold (CRYPTO:XAUT) has been recognised as an accepted spot commodity within Abu Dhabi Global Market, expanding its use in the regulated financial centre.
The recognition allows authorised firms operating in Abu Dhabi Global Market to use Tether Gold in eligible spot commodity transactions under the market's rules.
“This recognition reinforces Tether Gold's role as a trusted digital representation of physical gold,” said Tether Chief Executive Officer Paolo Ardoino.
Tether Gold is backed by physical gold, with each XAUT token representing ownership of one troy ounce of gold stored in secure vaults.
The approval marks another step in bringing tokenised real-world assets into regulated financial markets across the Middle East.
Tether Gold gives investors digital exposure to physical gold while allowing tokens to be transferred and traded on blockchain networks.
Abu Dhabi Global Market has continued to develop digital asset regulations as the United Arab Emirates strengthens its position as a regional hub for blockchain and cryptocurrency businesses.
