Wu said that Tether announced that its stablecoin USD₮ has been recognized as a 'fiat-backed token (AFRT)' in the Abu Dhabi Global Market (ADGM) and can be used on more mainstream blockchains. The ADGM Financial Services Regulatory Authority (FSRA) approved USD₮ to conduct regulated business on networks such as Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON, which means that authorized institutions can provide compliance services related to USD₮ on these chains. Previously, ADGM had recognized the use of USD₮ on Ethereum, Solana, and Avalanche.