Tether to Launch First UAE Dirham-Pegged Stablecoin
Date: 2024-08-26 Author: Gabriel Deangelo Categories: BUSINESS
This is an innovation to launch a new stablecoin pegged to the UAE dirham. The initiative is also supported by Green Acorn Investments Ltd. and aims to transform the digital financial sector.
By combining the stability of the UAE dirham with the power of blockchain technology, the new coin will offer a trusted digital asset that reflects one of the most stable currencies in the world. This innovation can play a significant role in streamlining business processes and driving growth in the context of digital transformation.
With the support of Phoenix Group and Tether’s expertise in financial technology, the new stablecoin will meet the strict regulatory requirements of the UAE. The coin is planned to be available internationally and strengthen the UAE’s position in the global economy.
