Abu Dhabi Grants Key Regulatory Status to Tether’s USDt
The post Abu Dhabi Grants Key Regulatory Status to Tether’s USDt appeared on BitcoinEthereumNews.com.
Tether’s USDt gains regulatory approval in Abu Dhabi, while UAE Islamic bank Ruya launches in-app Bitcoin trading, boosting crypto growth. Tether’s USDt, the largest stablecoin by market cap, has achieved a regulatory milestone in Abu Dhabi. The Abu Dhabi Global Market (ADGM) has officially recognized USDt as an “accepted fiat-referenced token.” This designation allows licensed firms in the ADGM to offer trading, custody, and other services involving USDt. The move marks a significant step for stablecoins in the UAE’s financial landscape. Regulatory Milestone for Stablecoins in Abu Dhabi The ADGM’s recognition of USDt is an important development for the digital asset space in the UAE. The ADGM has long been a hub for crypto companies seeking clear regulations and institutional access. By granting regulatory approval to USDt, the region continues to position itself as a leader in digital asset services. Tether CEO Paolo Ardoino expressed that this recognition “reinforces the role of stablecoins as essential components of today’s financial landscape.” He also emphasized the growing use of stablecoins in remittances, cross-border settlements, and digital asset markets. The approval of USDt marks a significant step forward in integrating stablecoins into regulated financial services in Abu Dhabi. This regulatory status allows licensed companies in ADGM to offer a wider range of services involving USDt, including custody and institutional settlements. The recognition also expands the token’s usability, particularly in cross-border payments and institutional-grade custody services. UAE’s Growing Stablecoin and Digital Asset Market The UAE’s crypto ecosystem is rapidly expanding, with several notable developments. Recently, UAE Islamic bank Ruya partnered with Fuze to launch in-app Bitcoin trading. This makes Ruya the first Sharia-compliant bank in the country to offer direct BTC purchases. The move is significant as it opens the door for more Islamic financial institutions to consider crypto services, blending traditional banking…
