Tether's USDt awarded key regulatory status in Abu Dhabi

Tether's USDt, the largest stablecoin, has achieved a significant regulatory milestone in the Abu Dhabi Global Market (ADGM), an international financial center. The designation recognizes USDt as an "accepted fiat-referenced token," which permits regulated companies within the ADGM to offer services like trading and custody involving the stablecoin. Tether CEO Paolo Ardoino stated this reinforces stablecoins' role in finance, noting their use in remittances and settlements. This builds upon ADGM's prior acceptance of USDT across Ethereum, Solana, and Avalanche. Abu Dhabi is actively positioning itself in the stablecoin market, having also approved Ripple's RLUSD and anticipating a dirham-pegged stablecoin from a local consortium, leveraging a clear regulatory framework to attract digital asset firms.

(Source：Cointelegraph)