The firm behind the largest stablecoin by market cap is announcing the achievement of a significant regulatory milestone.
In a new announcement, Tether says USDT has become an Accepted Virtual Asset (AVA), as recognized by the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA).
Says Tether CEO Paolo Ardoino of the achievement,
“This milestone underscores Tether’s commitment to fostering global financial inclusion and innovation. By bringing USDT 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.
The UAE’s forward-thinking approach to virtual asset regulation sets a global benchmark, and we are proud that USDT can play a pivotal role in driving economic progress and digital transformation in the region. This approval highlights Tether’s dedication to building bridges between traditional and decentralized economies while ensuring security, trust, and efficiency for users worldwide.”
USDT’s designation as an AVA in the region will allow ADGM businesses to offer USDT-related services, such as trading and storage. According to the announcement, the approval will enable the “seamless integration” of USDT into the UAE’s financial landscape and future.
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The post Tether Scores Major Regulatory Milestone As USDT on Three Chains Deemed ‘Accepted Virtual Asset’ in Abu Dhabi appeared first on The Daily Hodl.