Tether Gold gains Shariah certification for XAU₮

Tether Gold has secured Shariah certification for XAU₮, widening the gold-backed token’s potential use among Islamic banks, institutions, and individual investors. Summary Amanah Advisors certified XAU₮ after reviewing its structure against Islamic finance principles. Each XAU₮ token represents one troy fine ounce of physical gold held in Swiss vaults. Tether Gold’s locked value has more than tripled to about $2.86 billion over the past year. The approval follows XAU₮’s recognition as an Accepted Spot Commodity in Abu Dhabi. XAU₮ receives Shariah approval from Amanah Advisors Tether announced on July 27 that XAU₮ had received Shariah compliance certification from Amanah Advisors, a global Islamic finance advisory firm led by Mufti Faraz Adam. The review covered the token’s ownership model, reserve transparency, physical backing, and compliance with Islamic rules governing gold transactions. Amanah Advisors also assessed whether the product involved interest, leverage, or speculative derivatives. According to Tether’s announcement, the certification found that XAU₮ meets the main requirements of Islamic finance. These include clear ownership of a real asset and the absence of riba, ...