ME News reports that on July 27 (UTC+8), Tether announced that its gold-backed token, XAUT, has received Sharia compliance certification from Amanah Advisors. The certification confirms that XAUT adheres to the core principles of Islamic finance, including genuine ownership of physical gold, a riba-free (interest-free) mechanism, absence of leverage and speculative derivatives, and transparent reserve structure. Each XAUT token represents direct ownership of one troy ounce of physical gold stored in a Swiss vault. This certification opens new use cases for Islamic banks, halal savings products, and tokenized trade finance, with a primary focus on GCC countries, South Asia, parts of Africa, and global institutional markets supporting Islamic finance. (Source: Foresight News)
Tether's XAUT Gold Token Receives Sharia Compliance Certification
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On July 27 (UTC+8), Tether announced that its XAUT gold-backed token has received Sharia compliance certification from Amanah Advisors. The certification confirms that XAUT adheres to Islamic finance principles, including direct gold ownership, the absence of interest, leverage, or derivatives. Each XAUT represents one troy ounce of gold stored in Swiss vaults. This development supports crypto compliance in Islamic banking, halal savings, and trade finance, targeting markets in the GCC, South Asia, and the global Islamic economy.
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