Tether's USDT has been officially recognized as a 'Fiat-Backed Reference Token' by the Abu Dhabi Global Market (ADGM) as of December 9. This designation permits licensed entities within the ADGM to provide regulated services involving USDT, such as trading and custody. The certification represents a significant regulatory milestone for USDT in Abu Dhabi, potentially enhancing its application in cross-border transactions, institutional custody, and payment systems.