Tag: USDT

Abu Dhabi Embraces Tether’s USDT as an Approved Virtual Asset

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.

Also Read: Coincheck: Japan’s Leading Crypto Exchange Goes Public on Nasdaq

XRP Surges to Claim Spot as Third Largest Cryptocurrency

XRP just leveled up on its game after overtaking Solana and USDT to become the 3rd biggest crypto. Its price spiked 30% in just a day and hit a massive $2.5, with a insane 370% jump from previous months . Ripple’s stablecoin RLUSD approval buzz and SEC drama are fueling the hype.

XRP is having its main character moment, y’all. The altcoin just flexed big time, climbing over Solana (SOL) and USDT to snatch the #3 spot in the crypto market. Right now, only Bitcoin and Ethereum are ahead of it, but the way XRP is moving, people are starting to wonder if this is just the beginning.

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Source: coingecko

Here’s the tea: XRP hit $2.5 recently, spiking over 30% in just 24 hours. It’s now trading around $2.41, and that’s after a massive 370% gain since November 1. If you’re wondering why everyone’s losing their minds over it, one reason is Ripple’s new stablecoin, RLUSD. The New York regulators are apparently ready to approve it, which is a big deal because NY has some of the toughest rules in the crypto game. If RLUSD gets the green light, Ripple can step into the big leagues with stablecoin giants like Tether (USDT) and Circle’s USDC.

But wait, there’s more! SEC Chair Gary Gensler just announced he’s dipping out in January, and that news has been giving XRP even more of a boost. People are also buzzing about potential XRP ETFs, with major players like 21Shares and Bitwise lining up to get in on the action.

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