Oobit’s ADGM licence application put a Tether- and Solana-backed crypto payments firm into Abu Dhabi’s regulated perimeter. Applying for an FSRA licence under the ADGM framework, Oobit signalled that everyday crypto payments are chasing regulatory legitimacy, not avoiding it.
Table of contents
What Oobit announced
Crypto payments provider Oobit announced its intention to apply for a Financial Services Regulatory Authority (FSRA) licence under the Abu Dhabi Global Market (ADGM) framework, expanding into the Middle East. “Applying for the ADGM licence is a monumental step for Oobit,” said COO Aharon Miller, framing it as a commitment to trust and innovation.
The backing behind it
Oobit is backed by heavyweight names including Tether and Solana. Tether CEO Paolo Ardoino tied the support to a shared goal of driving mainstream crypto adoption, describing Oobit as “a catalyst, breaking down barriers and facilitating frictionless transactions for crypto holders worldwide.” That backing matters: payments is where crypto meets daily life, and regulated rails are the precondition for scale.
Crypto payments in the UAE, 2026
Oobit’s move fits a UAE that has made regulated crypto payments a priority — from ADGM and VARA frameworks to real-world acceptance by merchants and developers. For the wider regulatory map, see our UAE crypto regulation guide.
Frequently asked questions
What licence is Oobit seeking?
An FSRA licence under the Abu Dhabi Global Market (ADGM) framework.
Who backs Oobit?
Industry names including Tether and Solana.
What does Oobit do?
It provides crypto payments, aiming to make everyday crypto transactions frictionless.
Why apply for a UAE licence?
To operate regulated crypto payments in a jurisdiction with clear virtual-asset frameworks.
Related UAE regulation coverage
Part of Cryptonite’s UAE regulation series — start with the UAE crypto regulation guide, then read: Dubai VARA regulations · DFSA crypto regulations · QCP Capital Abu Dhabi.
Sources: Oobit (COO Aharon Miller); Tether (CEO Paolo Ardoino); ADGM FSRA. Originally reported by Cryptonite; updated with 2026 context.
Disclaimer: General information, not financial advice.
