Which are the main players of Digital Gold in Dubai?

 

Main Players of Digital Gold in Dubai: A Detailed Guide

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Introduction

Dubai is one of the world’s leading gold hubs—globally recognized for its gold souks, bullion markets, world-class refineries, and tax-friendly environment. With the rise of digital-first investing, Dubai has quickly become a major center for digital gold platforms, offering investors a secure and transparent way to buy, store, and trade gold online.

Digital gold in Dubai is backed by physical gold stored in highly secure vaults within the UAE or internationally (often in Zurich, London, or Singapore). This allows both residents and international investors to accumulate gold without dealing with physical handling or logistics.

In this article, we explore the main players of Digital Gold in Dubai, including government-backed platforms, international fintechs, private bullion brands, and regulated crypto–gold token providers.

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1. Dubai Multi Commodities Centre (DMCC) – Government-Backed Gold Ecosystem

Overview

DMCC is Dubai’s flagship free zone and a global commodities hub. While DMCC itself does not directly sell digital gold, it plays a major role in regulating and supporting digital gold innovations in the UAE.

Many digital-gold players operate under DMCC because:

• It’s the world’s top commodities free zone

• It offers gold vaults (Dubai Gold & Commodities Exchange value system)

• It oversees the Dubai Good Delivery Standard (DGD) for gold purity

• It supports blockchain-based gold tokenization platforms

Why DMCC Matters

• It regulates several digital gold tokens

• It provides secure physical vaulting and bullion verification

• It supports global gold trade compliance

Major players like XAUt (Tether Gold), OneGold, and UAE-based startups operate under DMCC’s regulatory umbrella.

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2. Emirates Gold DMCC

Overview

Emirates Gold is Dubai’s oldest and largest gold refinery and a big name in the digital gold ecosystem. While traditionally known for physical gold bars, many digital platforms in UAE rely on Emirates Gold for:

• Physical gold backing

• Custody solutions

• Refining and certification

Role in Digital Gold

Though not a consumer-facing digital gold platform, Emirates Gold powers the gold supply chain for multiple digital gold apps and gold-backed tokens operating in the region.

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3. Al Etihad Gold

Overview

Al Etihad Gold is another major LBMA-certified Dubai refinery. Similar to Emirates Gold, it provides:

• Refining services

• Physical bullion

• Secure vaulting connections

This makes it a backend partner for digital gold platforms and bullion-backed investment providers in Dubai.

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4. GoldGuard (Dubai) – Digital Gold Startup

Overview

GoldGuard was one of the UAE’s earliest digital gold innovators. Although it became famous due to its partnership with OneGram (Islamic gold-backed cryptocurrency), GoldGuard also offered:

• Direct digital gold buying

• Gold-backed accounts

• Vault storage within Dubai

Key Features

• 100% Shariah-compliant

• Physical gold stored in UAE vaults

• Transparent pricing

While the project has evolved, GoldGuard played a key role in making the UAE a global digital-gold leader.

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5. OneGram – Shariah-Compliant Gold Digital Platform

Overview

OneGram is one of the world's first Shariah-compliant digital gold providers. It operates using blockchain, where each OneGram token is backed by 1 gram of physical gold stored in Dubai.

Key Features

• Fully Shariah certified

• Every token represents 1g of real gold

• Stored in insured UAE vaults

• Transparency through blockchain

Why It’s a Key Player

OneGram merged Islamic finance principles with modern blockchain-based gold investment and gained strong popularity in Middle East markets.

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6. XAUt – Tether Gold (Popular in Dubai)

Overview

Tether Gold (XAUt) is one of the most widely traded digital gold tokens globally and is extremely popular among investors in Dubai and Abu Dhabi.

Features

• Each token is backed by 1 troy ounce of physical gold

• Gold stored in Switzerland

• Fully redeemable in physical form

• Highly liquid (available on cryptocurrency exchanges)

Why It’s Relevant to Dubai

Dubai’s thriving crypto investor base and DMCC’s support for digital-assets makes XAUt one of the most widely held digital gold investments in the region.

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7. PAX Gold (PAXG)

Overview

Issued by Paxos Trust (USA regulated), PAXG is another global gold-backed token popular among Dubai investors.

Key Features

• Fully backed by LBMA-certified gold bars

• Institutional-grade compliance

• Redeemable for physical gold

• Traded on global exchanges

Dubai Market Presence

Dubai’s multi-currency investor environment and support for gold-backed crypto made PAXG a commonly used digital gold asset.

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8. Kinesis Money (Operating in UAE)

Overview

Kinesis is a global digital gold and silver trading platform offering:

• Gold-backed digital currency (KAU)

• Silver-backed currency (KAG)

• A vaulting network across UAE

• Multi-asset digital wallet

Key Features

• Zero monthly storage fees

• Spendable gold using a debit card

• Rewards for holding and transacting gold

Kinesis is increasingly becoming popular among UAE expatriates and global gold investors.

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9. BullionVault (Global – Popular With Dubai Expats)

Overview

BullionVault is the world’s largest online physical gold investment platform and is used by many UAE residents.

Features

• Buy real gold stored in Zurich, London, NY, Toronto, Singapore

• Low storage and commission fees

• Fully allocated gold

• Trusted global brand

Although not Dubai-based, it has a large user base in the region due to trust and low cost.

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10. Dubai Commodity Exchanges Supporting Digital Gold

A. Dubai Gold & Commodities Exchange (DGCX)

Though mainly for futures, DGCX offers institutional investors exposure to gold electronically.

B. Dubai Gold & Jewellery Group (DGJG)

Supports digital commerce and ecosystem growth for gold retailers.

These exchanges indirectly support digital gold trading and settlement.

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11. Banks and Fintech Apps Offering Gold Investment in Dubai

Some UAE banks and fintech platforms offer digital or electronic gold investment solutions, though often through international vaults.

Banks

• Emirates NBD – Gold Savings Certificates

• Mashreq Neo – Gold savings exposure

• ADCB – Commodities trading services

Fintech Apps

• eToro (used widely in UAE) – Gold-backed ETFs

• Sarwa – Gold ETFs through robo-advisory

• Barakat Gold – Online gold buying and delivery

These are not pure “digital gold” providers but offer electronic gold investment options.

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Summary: The Major Digital Gold Players in Dubai

Category	Main Players	Description
Government & Regulatory	DMCC	Oversees digital gold ecosystem, vaulting, compliance
Refineries (Backend for Digital Gold)	Emirates Gold, Al Etihad Gold	Supply physical gold, vaulting, certification
Digital Gold Platforms	GoldGuard, OneGram	Shariah-compliant gold platforms
Gold-Backed Tokens	XAUt, PAXG	Crypto + physical gold hybrid investment
Global Platforms Popular in Dubai	BullionVault, Kinesis Money	Online gold buying & vaulting
Banks/Fintech	Emirates NBD, Sarwa	Indirect digital gold exposure

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Conclusion

Dubai has evolved from a traditional bullion market to a global leader in digital and tokenized gold investment. The presence of robust refineries, world-class vaults, progressive free zones (like DMCC), and a large investor base make it an ideal environment for digital gold innovation.

The major players in Dubai's digital gold market fall into three categories:

1. Gold refineries and vaulting services — Emirates Gold, Al Etihad Gold

2. Digital gold and blockchain-backed platforms — OneGram, GoldGuard, Kinesis

3. Global gold token providers used widely in UAE — Tether Gold (XAUt), PAX Gold (PAXG)

With Dubai’s focus on becoming a regional fintech powerhouse, the digital gold market is expected to grow even faster, bringing new platforms and investment models to consumers and businesses.