Tether, the largest company in the digital assets industry, has announced that its stablecoin, USD₮, has been accepted as an Accepted Virtual Asset (AVA) by the Financial Services Regulatory Authority in Abu Dhabi. This approval allows licensed entities in Abu Dhabi to offer pre-approved services related to USD₮, further solidifying the UAE's position as a leader in digital asset innovation. Tether's USD₮ has become the most widely used stablecoin globally, with a market cap of over $138 billion and more than 400 million users. The UAE's progressive regulatory framework has led to the rapid adoption of cryptocurrencies in the country, making cities like Abu Dhabi and Dubai hubs for crypto innovation. Tether's CEO, Paolo Ardoino, stated that this milestone highlights Tether's dedication to fostering global financial inclusion and innovation and that the approval of USD₮ by ADGM sets a global benchmark for virtual asset regulation. ADGM's recognition of USD₮ as an Accepted Virtual Asset signifies a pivotal moment in the region's virtual asset evolution and supports the diversification and modernization of the UAE's financial landscape.



Other News from Today