Tether Secures New Approval for USDT Use in Abu Dhabi Global Market

TLDR

• Tether’s USDT stablecoin gains approval for use across multiple blockchain networks in the Abu Dhabi Global Market (ADGM).
• USDT is now recognized as an Accepted Fiat-Referenced Token (AFRT), enabling regulated activities on various blockchain platforms.
• The approval extends USDT’s utility to blockchains like Aptos, Celo, Cosmos, and TRON, boosting multi-chain interoperability.
• Ripple’s RLUSD and Binance’s approvals in the region signal growing regulatory acceptance of digital currencies in the UAE.
• Tether’s CEO, Paolo Ardoino, emphasized the importance of stablecoins in advancing financial inclusion and innovation in the Middle East.

Tether has obtained approval from Abu Dhabi Global Market (ADGM) to offer its USDT stablecoin across multiple blockchain networks. This approval allows Tether to extend its services within the region’s regulated financial framework. USDT will now be usable on networks such as Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON.

Tether’s USDT Becomes Recognized Fiat-Referenced Token

According to a press release, Tether’s USDT has officially been recognized as an Accepted Fiat-Referenced Token (AFRT) within the ADGM regulatory framework. Authorized persons licensed by the Financial Services Regulatory Authority (FSRA) can now offer regulated activities involving USDT. This includes using USDT on various blockchain platforms like Aptos, Solana, and Avalanche, where the stablecoin was previously recognized.

The recognition enhances the multi-chain utility of USDT, enabling it to serve as a reliable asset for trading and decentralized applications. Tether emphasized that this recognition highlights the company’s commitment to resilience, transparency, and regulatory compliance. “This approval demonstrates our ability to meet the AFRT criteria and safeguards set by the FSRA,” the company stated.

Ripple’s RLUSD and Binance’s Approval Follow Similar Paths

Tether’s achievement comes shortly after Ripple’s RLUSD stablecoin received similar approval from the FSRA. Ripple’s RLUSD now has permission to operate in the same regulatory environment, marking a shift toward wider acceptance of digital currencies in the region. Additionally, Binance recently secured full regulatory approval from the FSRA, allowing the exchange to provide trading, custody, and settlement services.

Binance’s approval is part of a broader trend of crypto firms securing regulatory approval in the UAE. This growing regulatory acceptance signals a more stable and established framework for crypto services in the region. The FSRA’s actions indicate increasing confidence in the crypto market and its integration into the financial system.

Tether Expands Global Presence with Regional Approvals

Tether’s recognition in the ADGM is another step in its expansion across international markets. The approval enhances USDT’s role as a global settlement asset, supporting interoperability across blockchain platforms. Tether CEO Paolo Ardoino stated that the company is proud to contribute to the UAE’s leadership in crypto regulation.

Ardoino noted that the approval reinforces the importance of stablecoins in modern financial systems. Tether’s efforts to expand its presence in the region will contribute to financial inclusion and innovation. The recognition also underscores the growing role of stablecoins in the Middle East’s digital economy.

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