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Tether announced that its USDT stablecoin issued on multiple major blockchain networks has received the official token (AFRT) designation of the Abu Dhabi Global Market (ADGM).
This designation allows ADGM-licensed companies to conduct regulated activities using USDT on the Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON and Tron networks.
The development represents an expansion of the regulatory framework that previously recognized the issuance of USDT on networks such as Ethereum, Solana and Avalanche, strengthening the stablecoin’s presence in the broader network ecosystem.
According to an official statement, this multi-level certification provides a unified regulatory structure that allows licensed companies to support more networks within one of the world’s most prominent regulated financial centers.
Tether said the recognition enhances interoperability and enables USDT to serve as a settlement asset in decentralized exchanges and applications while complying with AFRT requirements imposed by regulators.
CEO Paolo Ardoino stressed that the UAE continues to solidify its leadership in regulating digital assets, noting that the integration of USDT within the ADGM framework enhances the role of stablecoins in the global financial system and opens the way to new opportunities in the Middle East with the expansion of recognition across multiple networks.
This development comes after Tether expanded into Bitcoin-backed financing by investing in the “Ledn” platform, which offers lending services backed by digital assets and advanced risk management and custody tools.
Meanwhile, Circle continues to compete with Tether in the region, announcing that it has received a “financial services” license from the ADGM regulator, allowing it to operate as a financial services provider within the international financial center.
She also revealed the appointment of Dr. Saeeda Jaafar as regional director for the Middle East and Africa to support the company’s expansion and enhance the adoption of digital dollars and on-chain payment solutions in the UAE and the region.
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