Stablecoin

In a December report released on December 10, 2025, the IMF warned that fiat‑pegged stablecoins could undermine currencies in emerging markets and developing economies by enabling capital outflows, currency substitution, and bypassing capital flow management rules. Market commentators Noelle Acheson and Coinbase’s David Duong countered that the stablecoin sector is still too small to have a macroeconomic impact, noting that activity remains modest compared with foreign‑exchange and portfolio flows, according to the report.

Tether said Abu Dhabi Global Market has recognized USDT as an Accepted Fiat-Referenced Token, allowing institutions licensed by the Financial Services Regulatory Authority to use the stablecoin for regulated services on multiple blockchains. The designation is intended to enhance interoperability, liquidity, and cross-border settlement, while strengthening the UAE’s oversight of digital assets, according to Tether.

Circle obtained authorization from Abu Dhabi Global Market to run USDC-related money services on 9 December 2025. The company appointed former Visa executive Saeeda Jaffar to lead growth across the Middle East and Africa. Abu Dhabi continues licensing firms including Tether, Ripple, Binance and Bybit.

STABLE plunged after Stable’s mainnet launch on December 8, hitting an all‑time low near $0.015. The token dropped more than 70% versus its IDO sale price. It opened with 18B circulating out of 100B total supply, with 50% allocated to the team and early backers. PancakeSwap liquidity was about $720K.

Circle has secured full regulatory approval from Abu Dhabi Global Market's Financial Services Regulatory Authority to operate as a Money Services Provider and offer regulated USDC services in Abu Dhabi. The licence enables the company to provide institutional payment, settlement and digital-asset services in the UAE, bolstering the country's position as a hub for compliant crypto activity. Circle has also appointed Dr Saeeda Jaffar as Managing Director for the Middle East and Africa to lead its regional expansion.

In November 2025, the U.S. Securities and Exchange Commission (SEC) ended a two-year investigation into Ondo Finance without recommending enforcement action. The probe, launched in October 2023, examined Ondo's tokenized U.S. Treasury products and whether the ONDO token should be classified as a security under then chair Gary Gensler and later Paul Atkins.

The U.S. Commodity Futures Trading Commission has launched a pilot under Acting Chair Caroline Pham that permits Bitcoin, Ethereum and USDC to be posted as collateral for futures and swaps in U.S. derivatives markets, according to the agency. The initiative is paired with updated guidance on tokenized collateral and the withdrawal of Staff Advisory 20-34. Analysts say the changes could spur broader institutional use of Bitcoin, Ethereum and stablecoins in regulated markets.

Tether's USDT has been formally recognized as an accepted fiat-referenced token in the Abu Dhabi Global Market (ADGM), allowing licensed institutions to offer regulated trading, custody, and settlement services using the stablecoin. The designation broadens USDT's institutional footprint in the Middle East, supports Abu Dhabi's ambition to become a hub for stablecoins and digital assets, and comes as the global stablecoin market surpasses $300 billion in supply, according to DefiLlama.

Circle has secured a full Financial Services Permission from Abu Dhabi Global Market’s Financial Services Regulatory Authority, enabling it to operate as a regulated Money Services Provider in the UAE. The company plans to use the approval to expand USDC-based payment, settlement and infrastructure services in the region. It has appointed Dr. Saeeda Jaffar as Managing Director for the Middle East and Africa. The move follows earlier recognition of USDC and EURC in Dubai and coincides with new approvals for Tether’s USDT and Binance within ADGM.

Tether’s USDT stablecoin has been approved as a fiat-referenced token in Abu Dhabi Global Market (ADGM). The designation allows licensed firms to use USDT across a broad range of supported blockchains. It extends earlier recognition on Ethereum, Solana and Avalanche. The move aligns with Abu Dhabi’s wider digital-asset strategy, which includes full authorization for Binance under the ADGM regime.