(Stablecoin) News

in #news • 7 months ago (edited)

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On August 21, a stablecoin pegged to the United Arab Emirates dirham (AED) was launched, according to prominent stablecoin supplier Tether. This is a part of a strategic cooperation with two reputable UAE-based companies, Phoenix Group PLC and Green Acorn Investments Ltd.

Tether Wants to Make Remittances and Cross-Border Transactions in the UAE Easier

The new coin will provide users with a solid digital representation of local currency as it will be "fully backed by liquid UAE-based reserves" and follow Tether's "transparent and robust reserve standards," according to the press release.

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