"Abu Dhabi regulator allows multiple blockchain-based USDT to be used within its regulatory framework"
Summary
- Tether said the Abu Dhabi Global Market Financial Services Regulatory Authority has allowed the use of USDT based on multiple blockchains within its regulatory framework.
- The measure enables licensed firms to officially handle more than 12 network-based USDT, including Aptos, Celo, and Cosmos.
- Tether said it expects the approval to expand on-chain finance in the Middle East.
Stablecoin issuer Tether said on the 8th that the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) has recognized USDT issued on multiple blockchains as tokens that can be used within its regulatory framework.
Under this measure, ADGM-licensed firms can officially handle USDT based on various networks. Approved networks include Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, TRON, and, together with previously allowed Ethereum, Solana, and Avalanche, USDT issued on a total of more than 12 blockchains fall under the regulatory scope.
Tether said it confirmed operational stability, transparency, and compliance through consultations with the regulator.
Paolo Ardoino, Tether CEO, said, "The UAE is setting global standards in digital asset policy, and this approval will further expand USDT's role as a stable payment asset."
Tether said, "With this recognition, financial institutions and companies within ADGM will be able to support USDT-based payment and settlement services on more networks, which will further expand on-chain finance usage in the Middle East."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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