Tether's USDT Stablecoin Secures Multi-Chain Approval in Abu Dhabi

Tether has announced that its USDT stablecoin, available on several prominent blockchains, has been officially designated as an Accepted Fiat-Referenced Token (AFRT) by the Abu Dhabi Global Market (ADGM). This recognition enables firms licensed by the ADGM's Financial Services Regulatory Authority (FSRA) to engage in regulated activities with USDT on blockchain networks including Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and Tron. Following ongoing dialogue with the FSRA to highlight the resilience and compliance of its operations, this latest approval builds on earlier recognitions of USDT on Ethereum, Solana, and Avalanche, further enhancing its regulatory coverage. The consolidated approvals establish a multi-chain framework that allows ADGM-licensed companies to operate across a broader spectrum of blockchain networks while adhering to a well-established regulatory environment. As a result, USDT is now acknowledged in ADGM across nearly all major blockchains supported by Tether, fostering increased interoperability and enabling its use as a settlement asset for trading and decentralized applications, while complying with AFRT standards set by the FSRA. Tether CEO Paolo Ardoino remarked that the UAE is setting a global benchmark in digital asset regulation, emphasizing Tether's commitment to promoting financial inclusion and innovation worldwide. The recognition of multiple blockchains for USDT bolsters Abu Dhabi's stature as an international hub for compliant digital finance. In November, Tether also expanded its influence in Bitcoin-backed finance with a strategic investment in Ledn, a platform offering credit secured by BTC, which aligns with Tether's mission to support real-world credit markets. Concurrently, Circle, a rival stablecoin issuer, is solidifying its presence in the UAE by obtaining a Financial Services Permission license from the FSRA, enabling it to function as a Money Services Provider. Additionally, Circle has appointed Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa, focused on enhancing partnerships and promoting digital dollar adoption in the region.