Tether Gold Gains Regulatory Recognition in Abu Dhabi

Tether Gold (XAUT) has been designated as an Accepted Spot Commodity within the Abu Dhabi Global Market (ADGM). This allows regulated firms operating in the international financial center to provide services involving the tokenized gold asset, provided they hold the necessary permissions. The approval follows ADGM’s earlier recognition of Tether’s USDT as an Accepted Fiat Referenced Token, further expanding Tether’s regulated product offering in one of the Middle East’s leading financial hubs.

Tether CEO Paolo Ardoino said the designation provides regulated companies with a clearer framework for offering XAUT-related services. ADGM added that expanding the range of available products could support further business growth within the financial center.

Tether Gold records strong growth

Tether Gold’s total value locked has increased significantly over the past year. According to DefiLlama, its TVL rose from approximately $826 million to around $2.86 billion, more than tripling during the period.

The tokenized gold asset is also beginning to gain utility beyond trading and custody. In June, Bitcoin lending platform Ledn announced plans to accept XAUT as collateral later this year, allowing users to borrow against their tokenized gold holdings without having to sell them.

Tokenized commodities expand their market share

Tokenized commodities now represent a growing segment of the wider real-world asset market. According to RWA.xyz, tokenized commodities have a distributed value of approximately $4.46 billion, accounting for nearly 13% of the broader tokenized real-world asset market, which is valued at around $34.73 billion.

Sources:

https://cointelegraph.com/news/tether-gold-recognized-as-accepted-spot-commodity-in-abu-dhabi-financial-center

https://defillama.com/protocol/tether-gold

https://app.rwa.xyz/commodities