Tether on multi blockchains is now accepted in UAE’s ADGM
Tether’s USD₮ issued on a number of major blockchains, has been recognized as an Accepted Fiat-Referenced Token (AFRT) within ADGM the financial center in Abu Dhabi. The recognition allows Authorized Persons licensed by the Financial Services Regulatory Authority (FSRA) of ADGM to offer Regulated Activities involving USD₮ on Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON.The approval builds upon ADGM’s previous recognition of USD₮ on Ethereum, Solana, and Avalanche.
As per the press release, this approval brings expanded access for ADGM Authorised Persons to the world’s most widely used stablecoin across multiple blockchain networks.
“The UAE continues to set the global standard for digital asset regulation, and Tether is proud to contribute to this leadership,” said Paolo Ardoino, CEO of Tether. “This milestone highlights Tether’s dedication to advancing financial inclusion and innovation on a global scale. Introducing USD₮ within ADGM’s regulated digital asset framework reinforces the role of stablecoins as essential components of today’s financial landscape. It also creates fresh opportunities for collaboration and growth throughout the Middle East. By extending recognition to USD₮ on several major blockchains.”
With this decision, Tether now has USD₮ recognized on nearly all the major blockchains it supports, including Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON and TRON.
This multi-chain approval allows USD₮ to function as a reliable settlement asset for trading and decentralized applications, while maintaining the AFRT criteria and safeguards required by the FSRA.
