Odaily Planet Daily reports that Tether, the stablecoin issuer, has 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 regulated businesses within ADGM to offer services related to XAU₮.
Tether stated that this recognition was achieved following ongoing communication with ADGM and demonstration of its operational resilience, transparency, and compliance framework, and will assist regulated entities in supporting XAU₮ products and services within a regulated environment. Previously, ADGM’s Financial Services Regulatory Authority (FSRA) had classified Tether’s USD-pegged stablecoin, USD₮, as an “Accepted Fiat Referenced Token.” This recognition of XAU₮ further expands the scope of Tether’s products within ADGM’s regulated ecosystem.