The company behind stablecoins with the highest market capitalization announces the accomplishment of an important regulatory milestone.
Tether has announced that USDT is now an Accepted Virtual Currency (AVC), according to the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM).
The CEO of Tether, Paolo Ardoino, lauded the success.
This milestone underscores Tether’s commitment to global financial inclusion. We are validating stablecoins’ importance as a tool for modern finance by bringing USDT at the front of ADGM’s virtual asset framework. This also opens new doors to collaboration and growth in the Middle East.
This approval highlights Tether’s dedication to building bridges between traditional and decentralized economies while ensuring security, trust and efficiency for users worldwide.” Tether is proud to have received this approval, which highlights its commitment to bridging traditional economies with decentralized ones, while also ensuring the security, trust and efficiency of users around the world .”
The designation of USDT as an AVA will enable ADGM to provide USDT related services such as storage and trading. The announcement stated that the approval would allow for “seamless” integration of USDT in the UAE financial landscape.
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The post USDT on Three Chains Deemed as ‘Accepted Virtual Assets’ in Abu Dhabi Tether Scores Major Regulatory Milestone may be updated as new information becomes available.
