Stablecoin issuer Tether announced that USDT issued on several major blockchains has been recognised as an Accepted Fiat-Referenced Token (AFRT) within the Abu Dhabi Global Market (ADGM).
The designation allows firms licensed by the ADGM’s Financial Services Regulatory Authority (FSRA) to conduct regulated activities involving USDT on Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and Tron blockchain networks.
Extending USDT’s Regulated Footprint
The move follows what the company described as ongoing engagement with the FSRA to demonstrate the resilience, transparency, and compliance elements of its operations. The latest approval expands on earlier ADGM recognition of USDT on Ethereum, Solana, and Avalanche, thereby broadening the 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 lets ADGM-licensed firms support more networks while operating within one of the sector’s established regulatory jurisdictions. With this decision, USDT is now recognised in ADGM on nearly 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 trading and decentralized applications, while meeting AFRT requirements set by the FSRA.
Following the development, Tether CEO Paolo Ardoino stated:
“The UAE continues to set the global standard for digital asset regulation, and Tether is proud to contribute to this leadership. This milestone highlights Tether’s dedication to advancing financial inclusion and innovation on a global scale. Introducing USDT within ADGM’s regulated digital asset framework reinforces the role of stablecoins as essential components of today’s financial landscape. It also creates fresh opportunities for collaboration and growth throughout the Middle East. By extending recognition to USDT on several major blockchains, ADGM further strengthens Abu Dhabi’s position as a global hub for compliant digital finance.”
In November, Tether expanded its presence in Bitcoin-backed finance through a strategic investment in Ledn, a lending platform that provides credit secured by BTC. Ledn offers products such as risk management tools, advanced custody, 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 broadening access to both retail and institutional borrowers.
Circle’s UAE Expansion
Meanwhile, the latest approval for USDT in ADGM comes as rival stablecoin issuer Circle also strengthens its foothold in the UAE. Circle announced securing a Financial Services Permission license from the FSRA of Abu Dhabi Global Market, which will allow the company to operate as a Money Services Provider within the international financial center.
Alongside the regulatory milestone, the fintech also said 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 Manager for the Gulf Cooperation Council, will oversee the company’s regional operations and lead efforts to advance partnerships with financial institutions and enterprises. The USDC issuer also stated that her focus will include supporting the adoption of digital dollars and on-chain payment solutions across the UAE and wider MEA markets.