Stablecoin issuer Tether has announced that USDT issued on several major blockchains has been recognized as an accepted fiat-referenced token (AFRT) within the Abu Dhabi Global Market (ADGM).
The designation allows companies licensed by the ADGM Financial Services Regulatory Authority (FSRA) to conduct regulated activities involving USDT on the Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON and Tron blockchain networks.
Expanding USDT Regulated Footprint
The move follows what the company described as an ongoing engagement with FSRA to demonstrate the resilience, transparency and compliance elements of its operations. The latest approval extends ADGM’s prior recognition of USDT on Ethereum, Solana, and Avalanche, expanding regulatory coverage of the stablecoin across a wider range of blockchain networks.
According to the official press release, the combined approvals create a multi-chain framework that allows ADGM-approved companies to support more networks while operating in one of the industry’s established regulatory jurisdictions. With this move, USDT is now recognized in ADGM on almost all major blockchains supported by the issuer.
Tether said the multi-chain approval increases interoperability and allows USDT to be used as a settlement asset for commercial and decentralized applications, while meeting AFRT requirements set by the FSRA.
Following the development, Paolo Ardoino, CEO of Tether, said
“The UAE continues to set the global standard for digital asset regulation, and Tether is proud to contribute to this leadership. This milestone underscores Tether’s commitment to advancing financial inclusion and innovation on a global scale. The introduction of USDT as part of ADGM’s regulated digital assets reinforces the role of stablecoins as essential components of today’s financial landscape. It also creates new opportunities for collaboration and growth across the Middle East. The recognition of USDT on several major blockchains, ADGM further strengthens Abu Dhabi’s position as a global platform for compliant digital finance.
In November, Tether expanded its presence in the Bitcoin-backed financial sector with a strategic investment in Ledn, a lending platform that provides BTC-backed credit. Ledn offers products such as risk management tools, advanced custody services, liquidation systems and allows users to access loans without selling their digital assets. Tether said the investment aligns with its goal of supporting real-world credit markets and expanding access to retail and institutional borrowers.
Circle expansion in the United Arab Emirates
Meanwhile, the latest approval of USDT in ADGM comes as rival stablecoin issuer Circle also strengthens its presence in the UAE. Circle announced that it has obtained a financial services authorization license from the Abu Dhabi Global Market FSRA, which will allow the company to operate as a money services provider within the international financial hub.
Alongside this regulatory milestone, the fintech also announced that it has appointed Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa. Dr. Jaffar, who joins from Visa where she served as Senior Vice President and Group Country Director for the Gulf Cooperation Council, will oversee the company’s regional operations and lead efforts to advance partnerships with financial institutions and businesses. The USDC issuer also said its focus would include supporting the adoption of digital dollars and blockchain payment solutions in the UAE and broader MEA region markets.
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