Stablecoin Tether (USDT) Gets License in Abu Dhabi; Details
A Tether , the company behind the world’s largest stablecoin, USDT, announced on December 10 that it has received a license to operate in Abu Dhabi, United Arab Emirates (UAE). This historic approval makes USDT the first stablecoin to be officially recognized and regulated in the UAE’s capital.
In your release Officially, the stablecoin issuer noted that the recent announcement comes amid growing adoption of digital currencies in the UAE, reflecting the country’s proactive approach to integrating traditional and digital finance.
The license granted by the Financial Services Regulatory Authority (FSRA) to Abu Dhabi Global Markets (ADGM) classifies USDT as an Accepted Virtual Asset (AVA). This means that FSRA-licensed financial providers can now offer USDT-related services such as custody and trading.
“Tether, the largest digital asset company in the industry, today announced that the Financial Services Regulatory Authority (“FSRA”) has accepted USDT as an Accepted Virtual Asset (“AVA”) on the Abu Dhabi Global Market (“ADGM”). This approval allows Authorized Persons operating and licensed by the FSRA to offer pre-approved services related to USDT, furthering the region’s leadership in digital asset innovation,” the statement said.
With the license, USDT is set to become a major payment method in Abu Dhabi. The stablecoin can be used to conduct a variety of transactions, including online shopping, international payments, and investing in digital assets. Furthermore, the approval of USDT could spur the development of new projects and startups in the UAE’s cryptocurrency ecosystem.
“This milestone underscores Tether’s commitment to advancing 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,” said Paolo Ardoino, CEO of Tether.
At the time of publication, the USDT price is quoted at $1,00 with a 0.2% increase in the last 24 hours.
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