The leading stablecoin issuer Tether has recently caught the eyes of the crypto market participants with its recent announcement. In a recent X post, the USDT issuer revealed its plan to develop and launch a UAE Dirham-pegged stablecoin. This move marks a significant step by the firm in expanding its foothold in the Middle East, while leveraging the region’s growing adoption of blockchain technology.
Tether Plans To Launch Dirham-Pegged Stablecoin
Tether marks a significant step in its global expansion strategy. The firm plans to introduce a stablecoin pegged to the UAE Dirham (AED), gaining attention from crypto investors. The new stablecoin will be fully backed by liquid UAE-based reserves, which will ensure stability and confidence for the users.
The stablecoin issuer said that it will be partnering with UAE’s tech leader Phoenix Group, and will be backed by Green Acord investments for the development of the coin. The firm showed confidence in setting a new standard in the regio
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