Tether’s USD₮ Recognized and Accepted in Abu Dhabi Global Market (ADGM)
AI summary of the linked articleTether announced that the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has accepted USD₮ as an Accepted Virtual Asset, allowing FSRA-licensed Authorised Persons to offer pre-approved services related to it. The announcement covers USD₮ on the Ethereum, Solana, and Avalanche blockchains. Tether CEO Paolo Ardoino said the approval validates stablecoins as critical tools for modern finance and opens new opportunities for collaboration across the Middle East. The article describes USD₮ as the world's most widely used stablecoin, with a market cap above $138 billion and more than 400 million users. |
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2 comments What does it mean in practice? Will people be able to use USDT via their fintech apps for payments? papulous.ethSubmitter in practice, here's some potential benefits for users: - Integration with merchants - USDT-backed payments - Direct USDT payments Nothing's guaranteed but the usecases depend on the fintech apps policies & directions. |