Tether’s USDT Stablecoin Approved by Abu Dhabi Regulator for Broad Use
- Tether’s USDT has been recognized as an Accepted Fiat-Referenced Token (AFRT) in the Abu Dhabi Global Market (ADGM).
- The approval allows licensed financial firms to use USDT on blockchains including Aptos, Celo, Cosmos, and others.
- This recognition expands on prior approvals for Ethereum, Solana, and Avalanche.
- Other stablecoins like USDC and RLUSD have also received AFRT status in ADGM.
The approval of Tether’s USDT highlights the UAE’s commitment to establishing a regulatory framework for digital assets. This milestone demonstrates Tether’s role in promoting financial inclusion globally while enhancing its presence across various blockchain networks such as Cosmos and others.
With this new status, Tether’s USDT can now be utilized more broadly within regulated activities in the UAE. This move signals significant progress for stablecoins in mainstream finance. (Source)
