Abu Dhabi just gave Tether’s USDT the official virtual asset status, letting licensed financial institutions offer regulated services with it across blockchains like Ethereum and Solana. This move aligns with the UAE’s goal to be a digital finance hub, blending crypto with traditional finance for innovation and stability.
Abu Dhabi just made a power move in the crypto world by recognizing Tether’s stablecoin, USDT, as an official virtual asset (AVA). The Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority gave the green light, meaning financial institutions can now offer regulated services using USDT across blockchains like Ethereum, Solana, and Avalanche.
This isn’t just a win for Tether but a super flex for the UAE’s digital finance strategy. By integrating this into its regulated ecosystem, Abu Dhabi is essentially just building a bridge between old-school finance and decentralized systems. It’s all about staying ahead in the game and changing the face of crypto market.
With a market cap of massive $138 billion, USDT is already the king of stablecoins, and this move only solidifies its throne. And now with financial providers in ADGM, they can use USDT to create secure, compliant services, backed by the UAE’s rock-solid economic reputation.
Tether’s CEO, Paolo Ardoino, called this a “game-changer,” highlighting how stablecoins are reshaping modern finance. He’s hyped about Tether’s role in helping Abu Dhabi become a leader in digital transformation and economic innovation.
The UAE, especially Abu Dhabi and Dubai, is killing it in the blockchain scene, thanks to its smart regulations. These cities are now global crypto hubs with thriving blockchain communities. Clearly, the UAE isn’t just riding the crypto wave—it’s leading it.
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