TLDR
ADGM recognition recently covered two stablecoins: Tether USDt (USDT) and Ripple USD (RLUSD).
- USDT was recognized as an Accepted Fiat?Referenced Token in ADGM, enabling regulated use across multiple chains per a regulator update cited by media coverage.
- RLUSD gained similar ADGM recognition earlier, noted in follow?on reporting about the USDT decision here.
- Circles USDC/EURC secured an ADGM license (not the same as AFRT recognition), expanding regulated services in the UAE per a company update.
Deep Dive
1. USDT AFRT Status
Tether USDt was formally recognized by ADGM as an Accepted Fiat?Referenced Token, broadening regulated support across major networks (in addition to prior approvals on Ethereum, Solana, and Avalanche). This designation allows licensed firms in ADGM to offer regulated activities involving USDT, strengthening institutional settlement and custody use cases within the free zone per a regulator?aligned market update.
If you operate under ADGM permissions, USDT now fits directly into the regulated token framework, easing compliance for custody, trading, and payments.
2. RLUSD Recognition
Ripples dollar?pegged stablecoin, RLUSD, received similar ADGM recognition prior to USDTs update. Coverage of USDTs approval explicitly references RLUSDs earlier status, indicating ADGM is expanding its roster of recognized fiat?referenced tokens for institutional use in the jurisdiction per the report above.
RLUSD can be supported by ADGM?licensed participants under the same regulated token regime, useful where Ripples ecosystem is a strategic fit.
3. USDC/EURC License Context
Circle secured a Financial Services Permission in ADGM to operate as a regulated money services provider tied to USDC and EURC. This is a firm?level license rather than an AFRT token recognition, but it signals ADGMs openness to regulated stablecoin services across payments and settlement per the company update.
If youre planning corporate or institutional stablecoin workflows in ADGM, Circles license can support compliant payment and settlement services, complementing token?specific recognitions.
Conclusion
ADGMs framework now explicitly recognizes USDT and RLUSD as fiat?referenced tokens, while Circles USDC/EURC gained a firm?level license to operate stablecoin services. Practically, this widens compliant pathways for custody, trading, and payments within ADGMs regulated perimeter, aligning institutional workflows with clear rules and audited controls.
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