Summary
- Tether (USDT) reported that it has officially received approval in Abu Dhabi as a 'fiat-linked token'.
- The approval is characterized by enabling the use of fiat-linked tokens on multiple mainnets such as Aptos, Celo, and Kaia.
- ADGM's approval expanded Tether's regulatory scope to multiple chains.
Tether (USDT), the world's largest stablecoin (a virtual asset whose value is linked to fiat currency), has acquired the status of a 'fiat-linked token' in Abu Dhabi.
On the 9th (Korean time), Tether said on its official website that the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) approved Tether as a fiat-linked token usable on multiple mainnets including Aptos (APT), Celo (CELO), and Kaia (KAIA).
This measure is the result of ongoing consultations to verify transparency and compliance between Tether and fiat-linked tokens. ADGM had already recognized Tether based on Ethereum (ETH), Solana (SOL), and Avalanche (AVAX), and this approval expands the regulatory scope to multiple chains.
Paolo Ardoino, Tether's chief executive officer (CEO), said, "The United Arab Emirates (UAE) is setting a global standard in digital asset regulation," and "We are proud that Tether can contribute to this."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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