Abu Dhabi Market Declares Tether USDT Virtual Asset Status

Key Points:

• FSRA officially lists USDT as an Approved Virtual Asset (AVA) for ADGM.
• The approval includes USDT on Ethereum, Solana, and Avalanche networks, enhancing accessibility.
• FSRA-licensed entities can now offer pre-approved USDT-related services, strengthening Abu Dhabi’s digital asset ecosystem.

The Abu Dhabi Financial Services Regulatory Authority (FSRA) has officially approved Tether USDT virtual asset as an Approved Virtual Asset (AVA) for the Abu Dhabi Global Market (ADGM).

Tether USDT Officially Recognized as Virtual Asset

This approval enables FSRA-licensed entities to offer pre-approved services related to Tether USDT virtual assets, solidifying its position as a reliable and trusted digital asset for various financial applications. Notably, the authorization extends to USDT operating on the Ethereum, Solana, and Avalanche networks, ensuring seamless integration and accessibility for diverse users.

By recognizing Tether USDT virtual assets as an AVA, the FSRA aims to foster innovation while maintaining stringent regulatory standards. This decision reflects Abu Dhabi’s commitment to positioning itself as a global hub for digital assets and blockchain technology. Market participants within the ADGM can now leverage USDT’s benefits, including its stability and widespread adoption, to enhance their financial offerings.

Read more: Tether On-chain Wallets Reach 109 Million By Q4 2024

FSRA-Approved Entities Can Offer USDT Services

Paolo Ardoino, CTO of Tether, welcomed the approval, stating, “This recognition underscores the growing importance of USDT as a vital component of the digital financial landscape. It aligns with our vision of promoting financial inclusion and innovation worldwide.”

Tether USDT virtual asset continues to gain traction among governments and regulators, paving the way for broader adoption of digital assets in regulated environments. The FSRA’s decision is expected to bolster investor confidence and attract more participants to the region’s digital asset ecosystem.