Finance
Print
Tether’s USD₮ Recognized as Accepted Virtual Asset in ADGM

Acceptance Covers USD₮ on Ethereum, Solana, and Avalanche Blockchains; Enhances Opportunities for Licensed Entities in ADGM

10 December 2024 – Tether, the largest company in the digital assets industry, has announced the acceptance of USD₮ by the Financial Services Regulatory Authority (“FSRA”) as an Accepted Virtual Asset (“AVA”) in the Abu Dhabi Global Market (“ADGM”). This approval enables Authorised Persons operating and licensed by the FSRA to offer pre-approved services related to USD₮, advancing the region’s leadership in digital asset innovation. This announcement comes amid the rising adoption of digital currencies in the United Arab Emirates (UAE), reflecting the nation’s proactive approach to integrating traditional and digital finance.

The UAE, with its dirham pegged to the U.S. dollar, serves as a global benchmark for economic stability. Tether’s USD₮, now surpassing a $138 billion market cap as the world’s most widely used stablecoin, accessed by more than 400 million users globally, complements this stability by providing a trusted, efficient bridge between traditional fiat systems and digital economies. Since 2022 cryptocurrency adoption in the UAE has surged. This progressive regulatory framework has positioned cities like Abu Dhabi and Dubai as global leaders in crypto innovation and blockchain technology, fostering a thriving ecosystem for digital assets.

“This milestone underscores Tether’s commitment to fostering global financial inclusion and innovation. By bringing USD₮ to the forefront of ADGM’s regulated virtual asset framework, we are not only validating the importance of stablecoins as critical tools for modern finance but also opening new doors for collaboration and growth across the Middle East,” said Paolo Ardoino, CEO of Tether. “The UAE’s forward-thinking approach to virtual asset regulation sets a global benchmark, and we are proud that USD₮ can play a pivotal role in driving economic progress and digital transformation in the region. This approval highlights Tether’s dedication to building bridges between traditional and decentralized economies while ensuring security, trust, and efficiency for users worldwide.”

ADGM’s recognition of USD₮ as an Accepted Virtual Asset is a pivotal moment in the evolution of virtual assets in the region. This approval ensures USD₮ meets the standards set by the ADGM, enabling the seamless integration of USD₮ into the approved services of licensed entities in ADGM and supporting the diversification and modernization of the UAE’s financial landscape.

latest news

Tether Approaching $120B in U.S. Treasuries, Confirms Quarterly Operating Profit Over $1B, and Strengthens Global USD₮ Demand in Q1 2025

Tether International, S.A. de C.V. (TI) today published its Q1 2025 attestation, completed by BDO, a top-five global independent accounting firm. The report confirms the accuracy of Tether’s Financials Figures and Reserves Report (FFRR) and offers a transparent breakdown of the assets backing Fiat Denominated stablecoins as of March 31, 2025. In a quarter marked by […]

Learn more
Tether Acquires 70% Stake in Adecoagro, Signaling Strategic Expansion into Sustainable Infrastructure

April 30, 2025 – Tether Investments S.A. de C.V. (“Tether”), a global technology company and strategic investor, today announced the successful acquisition of a 70% controlling stake in Adecoagro S.A. (NYSE: AGRO), a leading sustainable production company in South America. This milestone represents a major step in Tether’s broader strategy to expand beyond digital finance […]

Learn more
Tether Reports XAU₮ Grows Amid Shifting Monetary Landscape, Releases its First Attestation for Q1 2025, More Than 7.7 Tons of Physical Gold Backing the Token in Circulation

As of April 28, 2025, Tether Gold (XAU₮) maintains its position as the highest market-cap, most secure, and compliant tokenized gold product in the market. With the product now regulated in El Salvador, we are proud to publish the first official attestation specific to XAU₮ under this new regulatory framework. Each XAU₮ token is backed […]

Learn more
Read all news