Press releases or announcements from UAE banks or Tether

UAE Approves Tether's USDT as First Regulated Stablecoin in ADGM

Dec 10, 2024, 01:15 PM

Tether's USDT stablecoin has been officially recognized as an accepted virtual asset in the Abu Dhabi Global Market (ADGM), marking a significant step in the UAE's cryptocurrency regulation landscape. This approval signifies the UAE's first regulated stablecoin, aligning with the country's push towards becoming a hub for digital assets and blockchain technology. The recognition of USDT by ADGM is expected to facilitate its use in various financial transactions within the market.