XAUt is available as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain and can be transferred to any on-chain address from the holder’s Tether wallet. XAUt holders also have the option to redeem their Tether Gold for physical gold.

Appleby advised Tether on its offshore structuring and regulatory compliance for the issuance of Tether Gold. The Appleby team was led by BVI partner Andrew Jowett with assistance from Peter Colegate, counsel in Appleby’s Cayman office, and Rebecca Jack, senior associate in Appleby’s BVI office. Appleby advised Tether alongside US counsel, Steptoe & Johnson LLP.

Commenting on this transaction, Andrew Jowett said: “In recent months we have seen a growing demand from investors for digital exposure to real world assets. The launch of Tether Gold meets that demand and builds on Tether’s reputation for developing innovative first-to-market products.”

With technological innovation transforming offshore businesses and markets, Appleby has led the way amongst the offshore firms by launching a dedicated Global Technology and Innovation Group. With experts in the BVI, Cayman Islands and across its network of 10 offices, the group supports clients across a broad range of emerging technologies.

Find out more at applebyglobal.com/tech 

Share
Twitter LinkedIn Email Save as PDF
More Deals
13 Nov 2019 | Deals

Appleby advises Ascendent Capital Partners on education-related investment

Appleby acted as Cayman Islands counsel to Ascendent Capital Partners (ACP) on its USD150 million in...

11 Nov 2019 | Deals

Appleby advises China Tianbao Group Development on its global offering and main board listing on the Hong Kong Stock Exchange

Appleby advises China Tianbao Group Development on its global offering and main board listing on the...

Contributors: Huiyan Liew
22 Jul 2019 | Deals

Appleby advises Vanke Property (Overseas) Limited on its HKD 1,138.34 million transaction

Appleby acted as BVI, Cayman Islands and Jersey counsel for Vanke Property (Overseas) Limited (Vanke...

Contributors: Paul Cheuk, Minnie Choi