The Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) has officially approved Tether’s USDT as an Accepted Virtual Asset (AVA).
Licensed firms operating within ADGM are now authorized to provide pre-approved services involving USDT, bolstering the region’s position as a pioneer in digital asset innovation.
This move reinforces the UAE’s proactive approach to digital finance. With its currency, the dirham, linked to the U.S. dollar, the country benefits from strong economic stability. By integrating USDT—the leading stablecoin with a market valuation exceeding $138 billion—the UAE is cementing its presence in the crypto space. USDT serves as a vital link between conventional and digital economies, providing reliability and efficiency to over 400 million users globally.
Since 2022, the UAE has emerged as a major player in cryptocurrency adoption. Cities like Abu Dhabi and Dubai are spearheading this revolution, establishing the nation as a global center for blockchain and crypto advancements. The UAE’s progressive regulatory framework is fostering a vibrant financial ecosystem, harmonizing traditional banking with decentralized finance.
Tether’s USD₮ Recognized as Accepted Virtual Asset in the Abu Dhabi Global Market (ADGM)
— Tether (@Tether_to) December 10, 2024
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Tether’s CEO, Paolo Ardoino, hailed this development as a landmark achievement for both the company and the broader industry. “This underscores Tether’s commitment to fostering global financial inclusion and innovation,” Ardoino remarked. “By bringing USD₮ to ADGM’s regulated framework, we validate the importance of stablecoins as tools for modern finance. The UAE’s forward-thinking approach sets a global standard, and we’re proud USD₮ can drive economic progress and digital transformation in the region.”