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Tether Secures Abu Dhabi Approval! USDT Gains Compliance Status on 9 New Chains
[Chain News] Tether secures another major recognition! Abu Dhabi Global Market (ADGM) has just listed USDT as a “recognized fiat-referenced token” (AFRT). What does this mean? Simply put, institutions licensed by the ADGM Financial Services Regulatory Authority can now confidently and compliantly conduct USD stablecoin business on Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON—these 9 blockchains.
In fact, ADGM had already recognized USD stablecoins on Ethereum, Solana, and Avalanche before; with the addition of these 9 chains, it now basically covers all major blockchains supported by Tether. From a regulatory perspective, this is a green light for the multi-chain stablecoin ecosystem and also indicates that USDT is making steady progress on the compliance front. For projects looking to expand their Web3 business in the Middle East, this is definitely encouraging news—at least in Abu Dhabi, a financial hub, the compliance channel for stablecoins is now essentially open.