USDT is now approved as accepted virtual asset in Abu Dhabi
In its announcement, Tether stated that the approval enables FSRA-licensed individuals and entities to offer USDT-powered services in the region
Tether has announced that Abu Dhabi’s Financial Services Regulatory Authority has approved the company’s U.S. dollar-pegged stablecoin as an accepted virtual asset.
According to the announcement on Dec. 10, Tether is now available to authorized individuals and entities regulated within the Abu Dhabi Global Market. FSRA is a market regulator in Abu Dhabi under the Abu Dhabi Global Market. The FSRA is a market regulator under the ADGM, which operates as a financial-free zone in the United Arab Emirates.
USDT’s approval is part of FSRA’s mandate to regulate virtual asset service providers in the country. VASPs are required to comply with anti-money laundering and combating the financing of terrorism regulations.
In its announcement, Tether stated that the approval enables FSRA-licensed individuals and entities to offer USDT-powered services in the region. The agency pre-approves such services. With this acceptance, users within the ADGM can use USDT on Ethereum, Solana, and Avalanche.
Paolo Ardoino, chief executive officer of Tether, commented:
“This milestone underscores Tether’s commitment to fostering global financial inclusion and innovation. By bringing USD₮ to the forefront of ADGM’s regulated virtual asset framework, we are not only validating the importance of stablecoins as critical tools for modern finance but also opening new doors for collaboration and growth across the Middle East.”
