Tether to Launch New Dirham-Pegged Stablecoin with UAE Partners
Source: Tether Tether , a leading entity in the digital asset market, has unveiled plans to introduce a new stablecoin pegged to the United Arab Emirates Dirham (AED). This initiative, announced on 21 August 2024, is set to be realised through collaboration with Phoenix Group , a prominent UAE-based tech conglomerate, and Green Acorn Investments . The Dirham-pegged stablecoin will be fully supported by UAE-based liquid reserves, aligning with Tether’s commitment to transparency and robust reserve standards. Tether to Develop UAE Dirham-Pegged Stablecoin Read more:https://t.co/dkiDAI0y15 — Tether (@Tether_to) August 21, 2024 Collaboration and Development The partnership with Phoenix Group and Green Acorn Investments aims to create a digital representation of the AED, which is expected to enhance the stability and efficiency of financial transactions in the region. The new token will complement Tether’s existing stablecoin offerings, including US...