- Tether’s USDT recognized by ADGM on nine new blockchains.
- Expands previous approval from Ethereum, Solana, and Avalanche.
- Regulatory green-light for institutional USDT use in Abu Dhabi.
Tether’s USDT stablecoin has been recognized as an Accepted Fiat‑Referenced Token in Abu Dhabi, allowing its use on nine additional blockchains, enhancing integration in the region.
This expansion positions Abu Dhabi as a key player in crypto finance, potentially boosting USDT’s liquidity and usage across the approved chains, but financial specifics remain undisclosed.
Tether’s USD₮ has gained significant approval from the Abu Dhabi Global Market (ADGM), now recognized as an Accepted Fiat‑Referenced Token (AFRT) on nine additional blockchains, in a bid to expand its regulated use across new networks.
Tether and ADGM are the key institutions involved in this decision. The approval now includes networks such as Aptos, Celo, and Polkadot, complementing earlier endorsements on Ethereum and Solana. This move empowers ADGM-licensed firms with regulated multi-chain capabilities.
The impact extends to regulated virtual asset activities, allowing ADGM-authorized firms to engage in USDT-related transactions with enhanced regulatory compliance. This augments the crypto asset landscape by potentially increasing institutional adoption in the region.
Financial implications are notable, as the acceptance of USDT facilitates trading, settlement, and other activities within ADGM’s framework. It’s part of the broader strategy by the UAE to cement its status as a leading digital finance hub.
Observers anticipate growing crypto inflows and USDT demand on the highlighted blockchains, with institutional engagement likely to scale. Market dynamics in DeFi and CeFi may shift as entities leverage this new regulatory clarity.
The decision’s outcomes could redefine multi-chain integration strategies, with a focus on liquidity, regulatory safety, and technical interoperability. Past trends suggest that such recognition could boost USDT’s presence in global digital asset ecosystems. As noted by Paolo Ardoino, CEO of Tether, “We are excited to extend USDT’s recognition as an Accepted Fiat-Referenced Token across multiple chains in Abu Dhabi, reinforcing our commitment to regulatory compliance and innovation.”
| Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
