Tether’s USDT stablecoin has been officially recognized as an accepted virtual asset by the Abu Dhabi Global Market’s Financial Services Regulatory Authority, allowing licensed providers to offer related services. This approval, which includes USDT issued on various blockchains, enhances its status as the largest stablecoin, with a market cap exceeding $138 billion. However, concerns about financial stability and risk management standards persist, particularly given Tether's dominance in the sector, holding around 70% of the total market value.