Tether’s USDT Achieves Multi-Chain AFRT Status in Abu Dhabi

Tether's USDT stablecoin has gained recognition as an Accepted Fiat-Referenced Token (AFRT) by Abu Dhabi's Global Market (ADGM). This approval allows licensed institutions to provide regulated services using USDT across multiple blockchains, enhancing its use in global financial systems.

Key Takeaways

Tether’s USDT has been designated an Accepted Fiat-Referenced Token (AFRT) in Abu Dhabi.
The approval allows usage across various blockchain networks, including Aptos, Celo, Cosmos, and more.
This recognition promotes financial inclusion and innovation within the UAE's financial landscape.
USDT's regulatory approval signifies increasing acceptance of stablecoins in mainstream financial markets.

Tether’s USDT gains AFRT multi-chain status in Abu Dhabi’s ADGM

Tether Expands Presence in Abu Dhabi

The Abu Dhabi Global Market (ADGM) has officially acknowledged USDT as an Accepted Fiat-Referenced Token (AFRT), as stated by Tether. This classification enables licensed organizations under the Financial Services Regulatory Authority (FSRA) of ADGM to conduct regulated operations using USDT across a range of blockchain networks, which include Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON.

Paolo Ardoino, CEO of Tether, commented, “The UAE continues to set the global standard for digital asset regulation, and Tether is proud to contribute to this leadership. This milestone highlights Tether’s dedication to advancing financial inclusion and innovation on a global scale.”

Previously, ADGM recognized USDT as an accepted virtual asset on Ethereum, Solana, and Avalanche. This new designation broadens the existing framework, offering potential for heightened use in cross-border payments, institutional custody, and settlement services.

The multi-chain recognition increases USDT’s interoperability within the global financial ecosystem, allowing the stablecoin to serve as a settlement asset for trading and decentralized applications while complying with AFRT standards and FSRA protective measures.

Tether’s collaboration with ADGM aligns with the UAE’s broader strategy to incorporate blockchain technology into its financial sector while ensuring strong oversight and safeguarding for investors. The inclusion of USDT in this framework enhances liquidity, interoperability, and the variety of blockchain infrastructure available to users and institutions in the area.

USDT is recognized as the most widely circulated stablecoin globally. This regulatory approval signifies a vital step as stablecoins receive growing acceptance in regulated financial markets.