Svmuu News: Stablecoin issuer Tether announced that its gold token, Tether Gold (XAU₮), has been designated as an “Accepted Spot Commodity” by the Abu Dhabi Global Market (ADGM), paving the way for ADGM-regulated firms to offer XAU₮-related services.
Tether stated that this recognition was achieved following ongoing communication with ADGM and the demonstration of its operational resilience, transparency, and compliance framework, and will help firms with the necessary regulatory licenses support XAU₮ products and services within a regulated environment.Previously, the ADGM Financial Services Regulatory Authority (FSRA) had designated the USD-pegged stablecoin USD₮, issued by Tether, as an “Accepted Fiat Referenced Token.” This recognition of XAU₮ further expands the scope of application for Tether products within ADGM’s regulated ecosystem.
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Tether Gold has gained global recognition in Abu Dhabi as a provider of services for spot commodities.
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