ADGM Approves Tether’s XAUT as an Accepted Spot Commodity
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The Abu Dhabi Global Market (ADGM) has recognized Tether Gold (XAUT) as an Accepted Spot Commodity, allowing firms in ADGM with the relevant regulatory permissions to offer the token backed by physical gold. Tether CEO Paolo Ardoino said the move underscores UAE leadership in digital asset regulation and signals greater crypto adoption and tokenization while also highlighting regulators’ role in cherry-picking eligible assets and the attendant regulatory gatekeeping risk.
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- Tether’s XAUT has gained approval into the ADGM Accepted Spot Commodity category.
- Firms with relevant regulatory approval can work with a token backed by physical gold.
- Regulators are dictating the future of tokenization by cherry-picking which assets.
The Abu Dhabi Global Market (ADGM) has officially recognized Tether Gold (XAUT) as an Accepted Spot Commodity. In a Monday announcement, Tether, the stablecoin issuer behind XAUT, noted that the recognition allows firms in ADGM to offer XAUT, subject to their own relevant regulatory permissions and approval to use Accepted Spot Commodities.
Speaking on the development, Tether CEO Paolo Ardoino stated that ADGM’s recognition of XAUT demonstrates the UAE’s continued leadership in digital asset regulation. According to Ardoino, bringing XAUT into the ADGM’s Spot Commodities framework creates room for firms with …
Read The Full Article ADGM Approves Tether’s XAUT as an Accepted Spot Commodity On Coin Edition.
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