Tether has made a significant move in the digital finance landscape by having its stablecoin USDT recognized as an Accepted Fiat-Referenced Token (ARFT) in Abu Dhabi. This development not only bolsters the credibility of USDT but also positions Abu Dhabi as a leading center for compliant digital finance, as emphasized in the official statement.
USDT Recognized as an ARFT
The recognition of USDT as an ARFT means that authorized entities can now participate in regulated activities involving the stablecoin across nearly all its native blockchains. This includes various applications and services that utilize USDT, thereby expanding its usability in the region.
Abu Dhabi's Embrace of Digital Assets
Abu Dhabi's embrace of USDT reflects a broader trend towards the integration of digital assets within traditional financial systems. As the city continues to enhance its regulatory framework, it aims to attract more businesses and investors in the digital finance sector, solidifying its status as a global hub.
In a notable contrast to Tether's recent recognition in Abu Dhabi, the USDC Treasury has minted 250 million USDC tokens, reflecting a surge in demand for digital currencies. For more details, see read more.
