Market News

Regulator Approves Tether's USDT Stablecoin for Use on Major Blockchains

Tether’s USDT stablecoin has received regulatory approval in Abu Dhabi, enhancing its status as a widely recognized digital asset.

The Abu Dhabi Global Market (ADGM) has categorized USDT as an Accepted Fiat-Referenced Token across several prominent blockchains, including Aptos, Celo, and Polkadot.

This recognition permits licensed financial firms within the ADGM to deploy USDT in their regulated operations, greatly expanding its applicability.

The approval builds upon earlier recognitions of USDT's use on Ethereum and Solana, augmenting its reach in the crypto landscape.

Tether CEO Paolo Ardoino emphasized that such regulatory frameworks bolster financial innovation and inclusion.

He noted that this endorsement positions Abu Dhabi as a key player in the global digital asset regulatory environment.

Alongside USDT, other stablecoins such as USDC and USDP have also gained approval within the ADGM.

This development occurs as the UAE intensifies its efforts to attract international digital asset companies, exemplified by Binance's recent regulatory authorization.

In a volatile market, Tether continues to reassure stakeholders about its financial stability and reserve structure.

The growing acceptance of USDT across multiple chains underscores the ongoing evolution and integration of stablecoins in traditional finance.